Wedbush Predicts Rocket Companies' Q1 Earnings (NYSE:RKT)

Rocket Companies, Inc. (NYSE:RKT - Free Report) - Equities researchers at Wedbush lowered their Q1 2025 earnings per share estimates for Rocket Companies in a research report issued on Wednesday, April 16th. Wedbush analyst J. Mccanless now anticipates that the company will earn $0.01 per share for the quarter, down from their previous forecast of $0.11. Wedbush has a "Outperform" rating and a $13.00 price objective on the stock. The consensus estimate for Rocket Companies' current full-year earnings is $0.15 per share. Wedbush also issued estimates for Rocket Companies' FY2025 earnings at $0.31 EPS and FY2026 earnings at $0.64 EPS.

A number of other research firms have also recently issued reports on RKT. Keefe, Bruyette & Woods boosted their target price on Rocket Companies from $14.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. The Goldman Sachs Group dropped their target price on Rocket Companies from $16.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. UBS Group decreased their price target on shares of Rocket Companies from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price target on Rocket Companies from $14.00 to $10.50 and set an "underweight" rating for the company in a research note on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Rocket Companies from a "hold" rating to a "buy" rating and set a $16.00 price objective on the stock in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.38.

Rocket Companies Price Performance

Rocket Companies stock traded up $0.77 during trading hours on Friday, hitting $12.32. 9,213,517 shares of the stock were exchanged, compared to its average volume of 8,095,983. The stock has a market capitalization of $24.59 billion, a P/E ratio of -77.00 and a beta of 2.35. The business's 50-day moving average is $13.47 and its two-hundred day moving average is $13.60. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. Rocket Companies has a 12 month low of $10.06 and a 12 month high of $21.38.

Rocket Companies Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th were issued a $0.80 dividend. The ex-dividend date of this dividend was Thursday, March 20th. Rocket Companies's dividend payout ratio is presently 801.25%.

Institutional Trading of Rocket Companies

A number of hedge funds and other institutional investors have recently modified their holdings of RKT. Cetera Investment Advisers lifted its holdings in shares of Rocket Companies by 2.9% during the fourth quarter. Cetera Investment Advisers now owns 33,035 shares of the company's stock worth $372,000 after purchasing an additional 936 shares during the period. Vident Advisory LLC increased its stake in shares of Rocket Companies by 3.6% in the 4th quarter. Vident Advisory LLC now owns 30,798 shares of the company's stock valued at $347,000 after acquiring an additional 1,078 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Rocket Companies by 82.4% during the first quarter. GAMMA Investing LLC now owns 3,905 shares of the company's stock valued at $47,000 after purchasing an additional 1,764 shares during the period. Parallel Advisors LLC grew its stake in Rocket Companies by 302.2% in the first quarter. Parallel Advisors LLC now owns 2,956 shares of the company's stock valued at $36,000 after acquiring an additional 2,221 shares during the period. Finally, KBC Group NV raised its position in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company's stock worth $68,000 after purchasing an additional 2,226 shares during the period. Institutional investors own 4.59% of the company's stock.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.