Rocket Companies (RKT) to Release Quarterly Earnings on Thursday

Rocket Companies (NYSE:RKT) is scheduled to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.01 per share for the quarter. Rocket Companies has set its Q1 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $885.00 million during the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. On average, analysts expect Rocket Companies to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Rocket Companies Price Performance

Rocket Companies stock opened at $12.41 on Tuesday. The stock has a market cap of $24.64 billion, a P/E ratio of -77.56, a price-to-earnings-growth ratio of 9.62 and a beta of 2.41. The company has a fifty day simple moving average of $12.63 and a 200-day simple moving average of $11.47. The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 0.92. Rocket Companies has a 12-month low of $7.17 and a 12-month high of $15.19.

Analyst Ratings Changes

Several research analysts have recently issued reports on RKT shares. Wells Fargo & Company lowered their price objective on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft started coverage on shares of Rocket Companies in a report on Wednesday, January 10th. They set a “hold” rating and a $10.00 price objective on the stock. Citigroup upped their target price on shares of Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, February 28th. UBS Group lifted their price target on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research note on Monday, February 26th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and issued a $10.75 price objective on shares of Rocket Companies in a research note on Wednesday, January 3rd. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.02.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through 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; and Rocket Loans, an online-based personal loans business.