Rocket Companies (RKT) Set to Announce Quarterly Earnings on Thursday

Rocket Companies (NYSE:RKT) will issue its quarterly earnings data 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.Parties interested in participating in the company’s conference call can do so using this link.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $885.00 million for the quarter, compared to analysts’ expectations of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. 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 Stock Performance

Shares of RKT stock opened at $12.27 on Wednesday. The stock’s 50-day moving average is $12.65 and its two-hundred day moving average is $11.50. Rocket Companies has a 1 year low of $7.17 and a 1 year high of $15.19. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92.

Analyst Ratings Changes

RKT has been the topic of several research reports. Bank of America raised their price objective on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. Wedbush reiterated a “neutral” rating and set a $13.00 target price on shares of Rocket Companies in a research note on Friday, February 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $10.50 target price (up previously from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Wells Fargo & Company decreased their target price on shares of Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, February 23rd. Finally, UBS Group increased their target price 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. Six analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.