Q1 2022 EPS Estimates for Rocket Companies, Inc. Raised by Jefferies Financial Group (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT) – Equities research analysts at Jefferies Financial Group boosted their Q1 2022 EPS estimates for Rocket Companies in a research report issued to clients and investors on Tuesday, October 12th. Jefferies Financial Group analyst R. Carr now forecasts that the company will post earnings of $0.44 per share for the quarter, up from their prior estimate of $0.37. Jefferies Financial Group currently has a “Hold” rating and a $18.00 target price on the stock.

Rocket Companies (NYSE:RKT) last announced its earnings results on Thursday, August 12th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.77 billion. Rocket Companies had a net margin of 2.31% and a return on equity of 94.06%.

Several other research firms have also recently commented on RKT. Credit Suisse Group lifted their target price on shares of Rocket Companies from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, August 13th. Zacks Investment Research upgraded shares of Rocket Companies from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday. Morgan Stanley lifted their target price on shares of Rocket Companies from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 13th. Royal Bank of Canada dropped their price target on shares of Rocket Companies from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Friday, October 8th. They noted that the move was a valuation call. Finally, Wedbush downgraded shares of Rocket Companies from a “neutral” rating to an “underperform” rating and set a $12.00 price objective for the company. in a research report on Tuesday, July 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Companies presently has an average rating of “Hold” and a consensus target price of $19.32.

Shares of Rocket Companies stock opened at $15.82 on Wednesday. Rocket Companies has a 12-month low of $14.94 and a 12-month high of $43.00. The company has a current ratio of 24.42, a quick ratio of 24.42 and a debt-to-equity ratio of 2.74. The stock has a market cap of $31.44 billion and a PE ratio of 5.10. The company has a 50-day moving average of $16.91 and a two-hundred day moving average of $18.73.

Institutional investors have recently added to or reduced their stakes in the stock. Lee Financial Co bought a new position in Rocket Companies in the second quarter valued at approximately $29,000. Huntington National Bank increased its holdings in Rocket Companies by 54.5% during the second quarter. Huntington National Bank now owns 1,701 shares of the company’s stock worth $33,000 after buying an additional 600 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Rocket Companies by 2,865.5% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,720 shares of the company’s stock worth $33,000 after buying an additional 1,662 shares during the last quarter. Meridian Wealth Partners LLC bought a new position in Rocket Companies during the first quarter worth $37,000. Finally, Amundi bought a new stake in shares of Rocket Companies in the second quarter valued at about $51,000. 3.74% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Company Profile

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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