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

Rocket Companies (NYSE:RKT) is scheduled to be issuing 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 that are interested in participating in the company’s conference call can do so using this link.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $885.00 million during the quarter, compared to analyst estimates of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The company’s revenue 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

Shares of NYSE:RKT opened at $12.27 on Wednesday. The company has a 50 day moving average of $12.65 and a 200-day moving average of $11.50. Rocket Companies has a twelve month low of $7.17 and a twelve month 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RKT. Citigroup upped their price target on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Wednesday, February 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $10.75 price target on shares of Rocket Companies in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $10.50 target price (up from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Wells Fargo & Company cut 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, Wedbush reissued a “neutral” rating and set a $13.00 target price on shares of Rocket Companies in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock 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.