FY2021 Earnings Estimate for Rocket Companies, Inc. Issued By Jefferies Financial Group (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT) – Investment analysts at Jefferies Financial Group issued their FY2021 EPS estimates for Rocket Companies in a research note issued to investors on Tuesday, January 11th. Jefferies Financial Group analyst K. Joseph forecasts that the company will earn $2.21 per share for the year. Jefferies Financial Group also issued estimates for Rocket Companies’ Q4 2021 earnings at $0.37 EPS, Q1 2022 earnings at $0.37 EPS, Q2 2022 earnings at $0.37 EPS, Q3 2022 earnings at $0.36 EPS, Q4 2022 earnings at $0.36 EPS, FY2022 earnings at $1.46 EPS, Q1 2023 earnings at $0.36 EPS, Q2 2023 earnings at $0.35 EPS, Q3 2023 earnings at $0.36 EPS, Q4 2023 earnings at $0.35 EPS and FY2023 earnings at $1.42 EPS.

A number of other brokerages also recently commented on RKT. Piper Sandler decreased their target price on Rocket Companies from $19.00 to $18.00 in a research note on Wednesday, January 5th. Morgan Stanley decreased their target price on Rocket Companies from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 30th. Wedbush upgraded Rocket Companies from an “underperform” rating to a “neutral” rating and set a $14.00 target price for the company in a research note on Monday, January 3rd. They noted that the move was a valuation call. Royal Bank of Canada decreased their target price on Rocket Companies from $24.00 to $21.00 and set a “sector perform” rating for the company in a research note on Friday, October 8th. They noted that the move was a valuation call. Finally, Barclays lifted their target price on Rocket Companies from $18.00 to $19.00 in a research note on Monday, January 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.73.

Shares of RKT stock opened at $13.42 on Thursday. The company has a quick ratio of 24.49, a current ratio of 24.49 and a debt-to-equity ratio of 2.38. The business has a 50 day moving average of $15.36 and a two-hundred day moving average of $16.57. Rocket Companies has a 52 week low of $13.09 and a 52 week high of $43.00. The company has a market cap of $26.63 billion, a P/E ratio of 4.33, a PEG ratio of 0.99 and a beta of 1.66.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, November 4th. The company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $2.96 billion. Rocket Companies had a return on equity of 70.94% and a net margin of 2.66%. The company’s revenue for the quarter was down 33.3% compared to the same quarter last year. During the same period last year, the firm earned $0.96 earnings per share.

A number of large investors have recently made changes to their positions in RKT. Russell Investments Group Ltd. bought a new stake in Rocket Companies during the second quarter worth approximately $912,000. Envestnet Asset Management Inc. increased its holdings in shares of Rocket Companies by 56.5% in the second quarter. Envestnet Asset Management Inc. now owns 57,238 shares of the company’s stock valued at $1,108,000 after buying an additional 20,656 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Rocket Companies by 17.5% in the second quarter. Teacher Retirement System of Texas now owns 15,168 shares of the company’s stock valued at $294,000 after buying an additional 2,260 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Rocket Companies by 15.8% in the second quarter. Rhumbline Advisers now owns 118,301 shares of the company’s stock valued at $2,289,000 after buying an additional 16,124 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Rocket Companies by 13.4% in the second quarter. Swiss National Bank now owns 298,800 shares of the company’s stock valued at $5,782,000 after buying an additional 35,200 shares in the last quarter. 3.70% of the stock is currently owned by hedge funds and other institutional investors.

About Rocket Companies

Rocket Companies, Inc engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Earnings History and Estimates for Rocket Companies (NYSE:RKT)

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