Wall Street analysts forecast that Rocket Companies (RKT) will report quarterly earnings of $0.04 per share in its upcoming release, pointing to a year-over-year decline of 50%. It is anticipated that revenues will amount to $1.75 billion, exhibiting an increase of 32.1% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 37.5% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision 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.
That said, let's delve into the average estimates of some Rocket Companies metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of MSRs, net' will reach $547.46 million. The estimate indicates a year-over-year change of +8.1%.
Based on the collective assessment of analysts, 'Revenue- Gain on sale of loans- Fair value of originated MSRs' should arrive at $376.96 million. The estimate indicates a change of +11.6% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Loan servicing income- Servicing fee income' of $406.53 million. The estimate indicates a year-over-year change of +8.8%.
According to the collective judgment of analysts, 'Revenue- Other income' should come in at $446.97 million. The estimate indicates a year-over-year change of +48.8%.
It is projected by analysts that the 'Revenue- Gain on sale of loans, net' will reach $924.41 million. The estimate points to a change of +9.5% from the year-ago quarter.
Analysts expect 'Revenue- Interest income, net' to come in at $34.34 million. The estimate indicates a change of +409% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Interest income- Interest income' reaching $114.19 million. The estimate indicates a year-over-year change of +5.2%.
View all Key Company Metrics for Rocket Companies here>>>
Over the past month, shares of Rocket Companies have returned -9.7% versus the Zacks S&P 500 composite's +3.8% change. Currently, RKT carries a Zacks Rank #2 (Buy), suggesting that it may outperform. 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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