In its upcoming report, Rocket Companies (RKT) is predicted by Wall Street analysts to post quarterly earnings of $0.10 per share, reflecting an increase of 150% compared to the same period last year. Revenues are forecasted to be $2.26 billion, representing a year-over-year increase of 90.8%.
The consensus EPS estimate for the quarter has been revised 1.9% 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.
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 rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Rocket Companies metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Revenue- Interest income, net' to come in at $33.63 million. The estimate suggests a change of +51.8% year over year.
The average prediction of analysts places 'Revenue- Loan servicing (loss) income- Servicing fee income' at $831.58 million. The estimate indicates a year-over-year change of +114.4%.
The combined assessment of analysts suggests that 'Revenue- Gain on sale of loans, net' will likely reach $1.00 billion. The estimate indicates a change of +41.4% from the prior-year quarter.
Analysts forecast 'Revenue- Loan servicing (loss) income- Change in fair value of MSRs' to reach -$453.59 million. The estimate points to a change of -227.4% from the year-ago quarter.
Analysts predict that the 'Revenue- Other income' will reach $596.89 million. The estimate suggests a change of +104.1% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Loan servicing (loss) income, net' of $302.41 million. The estimate indicates a year-over-year change of -59.4%.
Based on the collective assessment of analysts, 'Revenue- Gain on sale of loans- Fair value of originated MSRs' should arrive at $380.93 million. The estimate points to a change of -10.2% from the year-ago quarter.
The consensus estimate for 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of originated MSRs, net' stands at $595.50 million. The estimate points to a change of +107.8% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Interest income- Interest income' will reach $239.77 million. The estimate indicates a change of +132.3% from the prior-year quarter.
View all Key Company Metrics for Rocket Companies here>>>
Shares of Rocket Companies have demonstrated returns of -14.7% over the past month compared to the Zacks S&P 500 composite's +1.8% change. With a Zacks Rank #3 (Hold), RKT is expected to mirror the overall market performance 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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