Rocket Companies, Inc. (NYSE:RKT) Given Average Rating of "Reduce" by Analysts

Shares of Rocket Companies, Inc. (NYSE:RKT - Get Free Report) have earned a consensus recommendation of "Reduce" from the twelve ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.13.

RKT has been the topic of a number of recent analyst reports. Wedbush reissued a "neutral" rating and issued a $12.00 price target (down from $13.00) on shares of Rocket Companies in a report on Friday, May 9th. Barclays upgraded shares of Rocket Companies from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $10.00 to $14.00 in a research report on Tuesday, April 8th. Royal Bank of Canada restated a "sector perform" rating and issued a $18.00 target price on shares of Rocket Companies in a report on Tuesday, April 1st. UBS Group cut their target price on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Rocket Companies from $15.00 to $13.00 and set a "market perform" rating on the stock in a report on Monday, May 12th.

Rocket Companies Price Performance

Shares of NYSE:RKT opened at $12.27 on Thursday. The company's 50-day moving average is $12.91 and its 200 day moving average is $12.94. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a market capitalization of $24.55 billion, a P/E ratio of -76.71 and a beta of 2.33. Rocket Companies has a fifty-two week low of $10.06 and a fifty-two week high of $21.38.

Rocket Companies (NYSE:RKT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.26 billion. Rocket Companies had a negative net margin of 0.38% and a positive return on equity of 2.86%. The company's revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, equities research analysts forecast that Rocket Companies will post 0.15 earnings per share for the current year.

Rocket Companies Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a $0.80 dividend. The ex-dividend date was Thursday, March 20th. Rocket Companies's dividend payout ratio is presently -4,273.33%.

Hedge Funds Weigh In On Rocket Companies

Large investors have recently modified their holdings of the stock. Mather Group LLC. raised its position in shares of Rocket Companies by 312.2% in the 1st quarter. Mather Group LLC. now owns 2,601 shares of the company's stock worth $31,000 after purchasing an additional 1,970 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Rocket Companies by 302.2% during the 1st quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after purchasing an additional 2,221 shares during the period. Brooklyn Investment Group grew its stake in shares of Rocket Companies by 251.3% during the 1st quarter. Brooklyn Investment Group now owns 3,390 shares of the company's stock valued at $41,000 after purchasing an additional 2,425 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Rocket Companies during the 4th quarter valued at about $47,000. Finally, GAMMA Investing LLC grew its stake in shares of Rocket Companies by 82.4% during the 1st quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after acquiring an additional 1,764 shares during the period. Hedge funds and other institutional investors own 4.59% of the company's stock.

Rocket Companies Company Profile

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.

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