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Rocket Companies - RKT Stock Forecast, Price & News

$9.73
-0.72 (-6.89%)
(As of 08/19/2022 05:41 PM ET)
Add
Compare
Today's Range
$9.65
$10.30
50-Day Range
$6.37
$11.22
52-Week Range
$6.27
$18.49
Volume
2.30 million shs
Average Volume
4.63 million shs
Market Capitalization
$19.17 billion
P/E Ratio
7.60
Dividend Yield
N/A
Price Target
$10.42

Rocket Companies MarketRank™ Forecast

Analyst Rating
Hold
2.00 Rating Score
Upside/​Downside
7.4% Upside
$10.42 Price Target
Short Interest
Bearish
30.88% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
N/A
Insider Trading
Acquiring Shares
$6.71 M Bought Last Quarter
Proj. Earnings Growth
960.00%
From $0.05 to $0.53 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.83 out of 5 stars

Business Services Sector

271st out of 340 stocks

Mortgage Bankers & Correspondents Industry

7th out of 7 stocks

RKT stock logo

About Rocket Companies (NYSE:RKT) Stock

Rocket Companies, Inc. engages in the tech-driven real estate, mortgage, and e-Commerce businesses 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; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business. It also offer Core Digital Media, a digital social and display advertiser in the mortgage, insurance, and education sectors; Rocket Solar, which connect homeowners with digital financing solutions through a team of trained solar advisors; Truebill, a personal finance app that helps clients manage every aspect of their financial lives; Lendesk, a technology services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders; and Edison Financial, a digital mortgage broker. In addition, the company originates, closes, sells, and services agency-conforming loans. Rocket Companies, Inc. was founded in 1985 and is headquartered in Detroit, Michigan. Rocket Companies, Inc. operates as a subsidiary of Rock Holdings, Inc.

Analyst Ratings Changes

A number of research firms have weighed in on RKT. Wells Fargo & Company upgraded Rocket Companies from an "equal weight" rating to an "overweight" rating and set a $10.00 price objective for the company in a research note on Wednesday, July 6th. Keefe, Bruyette & Woods lowered Rocket Companies from a "market perform" rating to an "underperform" rating and set a $6.50 price target for the company. in a research note on Sunday, August 7th. Argus lowered Rocket Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 31st. Wedbush cut their price target on Rocket Companies to $7.00 and set a "na" rating for the company in a research note on Tuesday, May 17th. Finally, Credit Suisse Group cut their price target on Rocket Companies to $9.00 and set a "neutral" rating for the company in a research note on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.42.

Rocket Companies Price Performance

Shares of Rocket Companies stock traded down $0.63 on Friday, hitting $9.82. 29,242 shares of the company were exchanged, compared to its average volume of 3,324,469. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 45.29 and a beta of 1.72. The company has a 50-day moving average price of $8.75 and a 200 day moving average price of $9.81. Rocket Companies has a 1-year low of $6.27 and a 1-year high of $18.49. The company has a quick ratio of 14.97, a current ratio of 14.97 and a debt-to-equity ratio of 1.46.

Rocket Companies (NYSE:RKT - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). Rocket Companies had a net margin of 1.85% and a return on equity of 19.79%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company's revenue was down 47.8% on a year-over-year basis. As a group, sell-side analysts predict that Rocket Companies will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Rocket Companies

In other news, CEO Jay Farner purchased 22,400 shares of the firm's stock in a transaction on Wednesday, May 25th. The shares were bought at an average cost of $8.93 per share, for a total transaction of $200,032.00. Following the completion of the purchase, the chief executive officer now directly owns 2,342,807 shares of the company's stock, valued at $20,921,266.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have acquired 766,700 shares of company stock worth $6,506,534. Insiders own 94.01% of the company's stock.

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RKT Stock News Headlines

These Are The Top Insider Buying Stocks For July (RKT)
/C O R R E C T I O N -- Rocket Companies, Inc./
Rocket Companies (NYSE:RKT) PT Raised to $10.00 at Citigroup
Rocket Companies, Inc. (NYSE:RKT) CEO Buys $199,260.00 in Stock
Rocket Companies Stock Fails To Launch Following Q2 Revenue, EPS Miss
See More Headlines
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RKT Company Calendar

Last Earnings
8/04/2022
Today
8/19/2022
Next Earnings (Estimated)
11/03/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Mortgage bankers & correspondents
Sub-Industry
N/A
Fax
N/A
Employees
26,000
Year Founded
1985

Price Target and Rating

Average Stock Price Forecast
$10.42
High Stock Price Forecast
$18.00
Low Stock Price Forecast
$6.50
Forecasted Upside/Downside
+7.1%
Consensus Rating
Hold
Rating Score (0-4)
2.00
Research Coverage
12 Analysts

Profitability

Net Income
$308.21 million
Pretax Margin
35.02%

Debt

Sales & Book Value

Annual Sales
$12.91 billion
Cash Flow
$2.00 per share
Book Value
$4.45 per share

Miscellaneous

Outstanding Shares
1,969,955,000
Free Float
118,000,000
Market Cap
$19.17 billion
Optionable
Not Optionable
Beta
1.72

Social Links


Key Executives

  • Mr. Daniel B. Gilbert (Age 60)
    Founder & Chairman
  • Mr. Jay D. FarnerMr. Jay D. Farner (Age 49)
    Vice Chairman & CEO
    Comp: $1.6M
  • Mr. Robert Dean Walters Jr. (Age 57)
    Pres & COO
    Comp: $1.03M
  • Ms. Julie R. Booth (Age 52)
    CFO & Treasurer
    Comp: $878.56k
  • Mr. Angelo V. Vitale (Age 63)
    Gen. Counsel & Sec.
    Comp: $678.95k
  • Mr. Brian Nicholas Brown
    Chief Accounting Officer
  • Ms. Sharon Ng
    VP of Investor Relations
  • Ms. Trina Scott
    Chief Diversity Officer













RKT Stock - Frequently Asked Questions

Should I buy or sell Rocket Companies stock right now?

12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Rocket Companies in the last year. There are currently 2 sell ratings, 8 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" RKT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in RKT, but not buy additional shares or sell existing shares.
View RKT analyst ratings
or view top-rated stocks.

What is Rocket Companies' stock price forecast for 2022?

12 Wall Street analysts have issued 1-year price targets for Rocket Companies' shares. Their RKT share price forecasts range from $6.50 to $18.00. On average, they predict the company's stock price to reach $10.42 in the next year. This suggests that the stock has a possible downside of 0.3%.
View analysts price targets for RKT
or view top-rated stocks among Wall Street analysts.

How have RKT shares performed in 2022?

Rocket Companies' stock was trading at $14.00 on January 1st, 2022. Since then, RKT shares have decreased by 25.4% and is now trading at $10.45.
View the best growth stocks for 2022 here
.

When is Rocket Companies' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, November 3rd 2022.
View our RKT earnings forecast
.

How were Rocket Companies' earnings last quarter?

Rocket Companies, Inc. (NYSE:RKT) posted its quarterly earnings data on Thursday, August, 4th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by $0.05. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.53 billion. Rocket Companies had a net margin of 1.85% and a trailing twelve-month return on equity of 19.79%. The business's revenue was down 47.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS.

How often does Rocket Companies pay dividends? What is the dividend yield for Rocket Companies?

Rocket Companies declared a dividend on Thursday, February 24th. Shareholders of record on Tuesday, March 8th will be given a dividend of $1.01 per share on Tuesday, March 22nd. The ex-dividend date is Monday, March 7th.
Read our dividend analysis for RKT
.

When did Rocket Companies' stock split?

Shares of Rocket Companies split on the morning of Thursday, August 28th 2014. The 2-1 split was announced on Monday, July 28th 2014. The newly issued shares were distributed to shareholders after the market closes on Wednesday, August 27th 2014. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

What other stocks do shareholders of Rocket Companies own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Rocket Companies investors own include Tesla (TSLA), NVIDIA (NVDA), Advanced Micro Devices (AMD), Boeing (BA), Block (SQ), DraftKings (DKNG), Zoom Video Communications (ZM), NIO (NIO), Walmart (WMT) and DocuSign (DOCU).

When did Rocket Companies IPO?

(RKT) raised $3.2 billion in an initial public offering (IPO) on Thursday, August 6th 2020. The company issued 150,000,000 shares at a price of $20.00-$22.00 per share. Goldman Sachs, Morgan Stanley, Credit Suisse, J.P. Morgan, RBC Capital Markets, Allen & Co, BofA Securities, Barclays, Citigroup and UBS Investment Bank acted as the underwriters for the IPO and Castle Oak Securities, Drexel Hamilton, Fifth Third Securities, Huntington Capital Markets, Loop Capital, Mischler Financial, Nomura, Ramirez & Co., Siebert Williams Shank and Zelman Partners were co-managers.

What is Rocket Companies' stock symbol?

Rocket Companies trades on the New York Stock Exchange (NYSE) under the ticker symbol "RKT."

Who are Rocket Companies' major shareholders?

Rocket Companies' stock is owned by a variety of institutional and retail investors. Top institutional shareholders include State Street Corp (0.28%), Renaissance Technologies LLC (0.12%), ValueAct Holdings L.P. (0.10%), Bruni J V & Co. Co. (0.08%), Millennium Management LLC (0.06%) and Citadel Advisors LLC (0.00%). Insiders that own company stock include Jay Farner, Jennifer L Gilbert and Matthew Rizik.
View institutional ownership trends
.

How do I buy shares of Rocket Companies?

Shares of RKT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Rocket Companies' stock price today?

One share of RKT stock can currently be purchased for approximately $10.45.

How much money does Rocket Companies make?

Rocket Companies (NYSE:RKT) has a market capitalization of $20.59 billion and generates $12.91 billion in revenue each year. The company earns $308.21 million in net income (profit) each year or $1.28 on an earnings per share basis.

How many employees does Rocket Companies have?

The company employs 26,000 workers across the globe.

When was Rocket Companies founded?

Rocket Companies was founded in 1985.

How can I contact Rocket Companies?

Rocket Companies' mailing address is 1050 WOODWARD AVENUE, DETROIT MI, 48226. The official website for the company is www.rocketcompanies.com. The company can be reached via phone at 313-373-7990 or via email at ir@rocketcompanies.com.

This page (NYSE:RKT) was last updated on 8/19/2022 by MarketBeat.com Staff

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