Analysts on Wall Street project that Rocket Companies (RKT) will announce quarterly earnings of $0.14 per share in its forthcoming report, representing an increase of 250% year over year. Revenues are projected to reach $2.72 billion, increasing 109.5% from the same quarter last year.
Over the last 30 days, there has been a downward revision of 13.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of 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 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.
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.
The consensus estimate for 'Revenue- Loan servicing (loss) income- Servicing fee income' stands at $1.28 billion. The estimate indicates a change of +219.9% from the prior-year quarter.
It is projected by analysts that the 'Revenue- Other income' will reach $732.05 million. The estimate points to a change of +155.9% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenue- Gain on sale of loans, net' will likely reach $1.33 billion. The estimate indicates a change of +72.6% from the prior-year quarter.
View all Key Company Metrics for Rocket Companies here>>>Rocket Companies shares have witnessed a change of -6.8% in the past month, in contrast to the Zacks S&P 500 composite's +9.5% move. With a Zacks Rank #3 (Hold), RKT is expected closely follow the overall market performance in the near term. 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 Report
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