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

Rocket Companies (NYSE:RKT) is set to post its quarterly earnings results after the market closes on Thursday, August 1st. Analysts expect Rocket Companies to post earnings of $0.05 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Rocket Companies (NYSE:RKT) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. Rocket Companies had a negative return on equity of 1.05% and a net margin of 0.43%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.02 billion. 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 $16.04 on Tuesday. The company has a quick ratio of 12.83, a current ratio of 12.83 and a debt-to-equity ratio of 1.20. The business has a 50 day moving average of $14.28 and a two-hundred day moving average of $13.20. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $16.49. The company has a market cap of $31.89 billion, a P/E ratio of 145.83 and a beta of 2.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wedbush restated a “neutral” rating and issued a $13.00 target price on shares of Rocket Companies in a research note on Friday, May 3rd. Barclays lifted their price target on Rocket Companies from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on Rocket Companies from $11.00 to $13.50 and gave the company an “underweight” rating in a report on Monday, July 8th. Royal Bank of Canada lifted their price target on Rocket Companies from $12.00 to $14.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. Finally, Piper Sandler lifted their price target on Rocket Companies from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.10.

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.