The Rocket Companies Inc. (NYSE: RKT) Stock Jumped 23.05% In A Single Month – Are There Any Hopes For A Gain? – Marketing Sentinel
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The Rocket Companies Inc. (NYSE: RKT) Stock Jumped 23.05% In A Single Month – Are There Any Hopes For A Gain?

During the last session, Rocket Companies Inc. (NYSE:RKT)’s traded shares were 17.96 million. At the end of the trading day, the stock’s price was $21.73, reflecting an intraday gain of 1.97% or $0.42. The 52-week high for the RKT share is $41.10, that puts it down -89.14 from that peak though still a striking 25.36% gain since the share price plummeted to a 52-week low of $16.22. The company’s market capitalization is $42.68B, and the average intraday trading volume over the past 10 days was 17.07 million shares, and the average trade volume was 12.25 million shares over the past three months.

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Rocket Companies Inc. (RKT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. RKT has a Sell rating from 2 analyst(s) out of 16 analysts who have looked at this stock. 11 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.52.

Rocket Companies Inc. (NYSE:RKT) trade information

Rocket Companies Inc. (RKT) registered a 1.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.97% in intraday trading to $21.73 this Wednesday, 06/09/21, hitting a weekly high. The stock’s 5-day price performance is 7.20%, and it has moved by 23.05% in 30 days. The short interest in Rocket Companies Inc. (NYSE:RKT) is 18.9 million shares and it means that shorts have 1.78 day(s) to cover.

The consensus price target of analysts on Wall Street is $20.43, which implies a decrease of -6.36% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.00 and $26.00 respectively. As a result, RKT is trading at a discount of -19.65% off the target high and 35.57% off the low.

Rocket Companies Inc. (RKT) estimates and forecasts

Statistics show that Rocket Companies Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Rocket Companies Inc. (RKT) shares have gone up 15.41% during the last six months, with a year-to-date growth rate less than the industry average at -45.26% against 8.60. In the rating firms’ projections, revenue will decrease -30.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.93 billion as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $2.41 billion by the end of Sep 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $5.31 billion and $4.56 billion respectively. In this case, analysts expect current quarter sales to shrink by -44.80% and then drop by -47.10% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -33.10%. While earnings are projected to return -47.40% in 2021, the next five years will return 43.66% per annum.


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RKT Dividends

Rocket Companies Inc. is due to release its next quarterly earnings in July. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Rocket Companies Inc. (NYSE:RKT)’s Major holders

Rocket Companies Inc. insiders own 1.22% of total outstanding shares while institutional holders control 54.28%, with the float percentage being 54.95%. Caledonia (Private) Investments Pty Ltd is the largest shareholder of the company, while 336 institutions own stock in it. As of Mar 30, 2021, the company held over 9.55 million shares (or 7.00% of all shares), a total value of $220.48 million in shares.

The next largest institutional holding, with 6.38 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.67% of outstanding shares. At the market price on Mar 30, 2021, these shares were valued at $147.23 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Rocket Companies Inc. (RKT) shares are Invesco Main Street Fund and Vanguard Total Stock Market Index Fund. Data provided on Jan 30, 2021 indicates that Invesco Main Street Fund owns about 5.53 million shares. This amounts to just over 4.05 percent of the company’s overall shares, with a $118.19 million market value. The same data shows that the other fund manager holds slightly less at 3.27 million, or about 2.40% of the stock, which is worth about $75.48 million.

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