Rocket Companies, Inc. to Report Q2 2022 Earnings of $0.00 Per Share, Wedbush Forecast (NYSE: RKT)

Rocket Companies, Inc. (NYSE: RKT – Get a rating) – Wedbush equity analysts cut their Q2 2022 earnings estimates for Rocket Companies in a research report released to clients and investors on Friday, June 17. Wedbush analyst H. Coffey now expects the company to post earnings per share of $0.00 for the quarter, down from its previous estimate of $0.04. Wedbush currently has an “NA” rating and a target price of $7.00 on the stock. The consensus estimate for Rocket Companies’ current annual earnings is $0.26 per share. Wedbush also released estimates for Rocket Companies fiscal year 2022 earnings at $0.17 EPS and fiscal year 2023 earnings at $0.58 EPS. Rocket Companies (NYSE: RKT – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.12 for the quarter, missing the consensus estimate of $0.16 per ($0.04). The company posted revenue of $1.93 billion for the quarter, versus a consensus estimate of $2.24 billion. Rocket Companies had a net margin of 2.16% and a return on equity of 31.45%. Rocket Companies revenue was down 52.2% year over year. During the same period a year earlier, the company posted EPS of $0.55.

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Other stock analysts have also recently released research reports on the stock. Barclays lowered its price target on Rocket Companies shares from $14.00 to $13.00 and set an “equal weight” rating for the company in a Tuesday, April 12 research note. Keefe, Bruyette & Woods downgraded Rocket Companies shares from an “underperforming” rating to a “market performing” rating and lowered their target price for the stock from $10.00 to 7, $00 in a research note from Sunday, May 15. Bank of America downgraded shares of Rocket Companies from a ‘neutral’ to an ‘underperforming’ rating and lowered its target price for the stock from $21.00 to $11.00 in a research note Tuesday, February 22. Morgan Stanley lowered its target price on shares of Rocket Companies from $12.00 to $11.00 and set an “equal weight” rating for the company in a Thursday, April 7 research note. Finally, Citigroup downgraded shares of Rocket Companies from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $14.00 to $8.00 in a Wednesday 11 report. may. One financial analyst gave the stock a sell rating, eleven gave the company a hold rating and one gave the company a buy rating. According to MarketBeat, Rocket Companies currently has an average rating of “Hold” and a consensus price target of $11.08.

NYSE RKT shares opened at $6.37 on Monday. Rocket Companies has a 12-month low of $6.27 and a 12-month high of $20.84. The company has a fifty-day simple moving average of $8.65 and a 200-day simple moving average of $11.43. The company has a market capitalization of $12.55 billion, a PE ratio of 3.84, a P/E/G ratio of 2.32 and a beta of 1.38. The company has a quick ratio of 13.54, a current ratio of 13.54 and a leverage ratio of 1.40.

Institutional investors have recently increased or reduced their stake in the stock. Moors & Cabot Inc. acquired a new position in Rocket Companies during the third quarter worth approximately $31,000. Rockefeller Capital Management LP increased its holdings in Rocket Companies by 173.2% during the fourth quarter. Rockefeller Capital Management LP now owns 3,500 shares of the company worth $49,000 after buying 2,219 additional shares in the last quarter. US Bancorp DE increased its stake in Rocket Companies by 341.4% in the first quarter. US Bancorp DE now owns 4,414 shares of the company worth $49,000 after buying 3,414 more shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Rocket Companies during the first quarter for a value of around $52,000. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in Rocket Companies by 111.6% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,640 shares of the company worth $58,000 after purchasing an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 3.71% of the company’s shares.

In other Rocket Companies news, CEO Jay Farner acquired 13,100 shares of Rocket Companies in a transaction dated Friday, April 1. The shares were purchased at an average cost of $11.04 per share, for a total transaction of $144,624.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Insiders bought 664,100 shares of the company valued at $5,803,899 during the last quarter. Company insiders own 94.01% of the company’s shares.

Company Profile Rocket Companies (Get a rating)

Rocket Companies, Inc. operates in the technology-driven real estate, mortgage, and e-commerce industries 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 which provides title insurance, real estate appraisal and settlement services; Rocket Homes, a home search platform and realtor referral network, which offers technology services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized, virtual car-selling support to online car-buying platforms; and Rocket Loans, an online personal loan company.

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History and earnings estimates for rocket companies (NYSE: RKT)

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