In its upcoming report, Rocket Companies (RKT) is predicted by Wall Street analysts to post quarterly earnings of $0.03 per share, reflecting a decline of 50% compared to the same period last year. Revenues are forecasted to be $1.25 billion, representing a year-over-year decrease of 3.6%.
The consensus EPS estimate for the quarter has undergone a downward revision of 9.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Rocket Companies metrics that are commonly monitored and projected by Wall Street analysts.
Based on the collective assessment of analysts, 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of MSRs, net' should arrive at $437.81 million. The estimate suggests a change of +6% year over year.
It is projected by analysts that the 'Revenue- Gain on sale of loans- Fair value of originated MSRs' will reach $421.95 million. The estimate indicates a change of +22.1% from the prior-year quarter.
Analysts forecast 'Revenue- Loan servicing income- Servicing fee income' to reach $410.87 million. The estimate indicates a year-over-year change of +15.8%.
Analysts expect 'Revenue- Other income' to come in at $298.67 million. The estimate suggests a change of +10.9% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Gain on sale of loans, net' of $860.09 million. The estimate suggests a change of +13.4% year over year.
The consensus among analysts is that 'Revenue- Loan servicing income, net' will reach $131.88 million. The estimate points to a change of -45.5% from the year-ago quarter.
Analysts predict that the 'Revenue- Interest income, net' will reach $25.06 million. The estimate indicates a year-over-year change of -19.5%.
The combined assessment of analysts suggests that 'Revenue- Interest income- Interest income' will likely reach $91.94 million. The estimate indicates a change of -18.2% from the prior-year quarter.
View all Key Company Metrics for Rocket Companies here>>>
Shares of Rocket Companies have experienced a change of +5.5% in the past month compared to the +4.9% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), RKT is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Rocket Companies, Inc. (RKT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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