In its upcoming report, Rocket Companies (RKT) is predicted by Wall Street analysts to post quarterly earnings of $0.17 per share, reflecting an increase of 325% compared to the same period last year. Revenues are forecasted to be $2.82 billion, representing a year-over-year increase of 110.3%.
The consensus EPS estimate for the quarter has undergone a downward revision of 14.6% 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 reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Rocket Companies metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Revenue- Gain on sale of loans, net' at $1.28 billion. The estimate indicates a change of +56.6% from the prior-year quarter.
The consensus estimate for 'Revenue- Interest income- Interest income' stands at $482.44 million. The estimate suggests a change of +290.6% year over year.
Analysts expect 'Revenue- Loan servicing (loss) income- Servicing fee income' to come in at $1.09 billion. The estimate indicates a change of +171.4% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Other income' of $560.03 million. The estimate suggests a change of +81% year over year.
The combined assessment of analysts suggests that 'Revenue- Loan servicing (loss) income, net' will likely reach $506.35 million. The estimate points to a change of +150.2% from the year-ago quarter.
Analysts' assessment points toward 'Revenue- Gain on sale of loans- Fair value of originated MSRs' reaching $655.31 million. The estimate suggests a change of +90.8% year over year.
Based on the collective assessment of analysts, 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of originated MSRs, net' should arrive at $659.20 million. The estimate indicates a year-over-year change of +39.6%.
View all Key Company Metrics for Rocket Companies here>>>Shares of Rocket Companies have demonstrated returns of -12% over the past month compared to the Zacks S&P 500 composite's +1.7% change. With a Zacks Rank #4 (Sell), RKT is expected to lag 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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