Rocket Companies Inc. (NYSE: RKT) Is Worth A Shot If You’re A Risk-Capital Investor – Marketing Sentinel
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Rocket Companies Inc. (NYSE: RKT) Is Worth A Shot If You’re A Risk-Capital Investor

In the latest trading session, 2.06 million Rocket Companies Inc. (NYSE:RKT) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $18.89 changed hands at -$0.55 or -2.83% at last look, the market valuation stands at $39.15B. RKT’s current price is a discount, trading about -117.58% off its 52-week high of $41.10. The share price had its 52-week low at $16.22, which suggests the last value was 14.13% up since then. When we look at Rocket Companies Inc.’s average trading volume, we note the 10-day average is 5.78 million shares, with the 3-month average coming to 10.76 million.

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Analysts gave the Rocket Companies Inc. (RKT) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.70. If we narrow down to specifics, the data shows that 2 out of 16 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 11 recommended RKT as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Rocket Companies Inc.’s EPS for the current quarter is expected to be $0.51.


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Rocket Companies Inc. (NYSE:RKT) trade information

Instantly RKT was in red as seen in intraday trades today. With action -5.95%, the performance over the past five days has been red. The drop to weekly highs of 20.85 on Friday, 06/18/21 subtracted -2.83% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.59%, with the 5-day performance at -5.95% in the red. However, in the 30-day time frame, Rocket Companies Inc. (NYSE:RKT) is 13.75% up. Looking at the short shares, we see there were 18.9 million shares sold at short interest cover period of 1.78 days.

The consensus price target for the stock as assigned by Wall Street analysts is $20.36, meaning bulls need an upside of 7.22% from its recent market value. According to analyst projections, RKT’s forecast low is $14.00 with $26.00 as the target high. To hit the forecast high, the stock’s price needs a -37.64% plunge from its current level, while the stock would need to tank 25.89% for it to hit the projected low.

Rocket Companies Inc. (RKT) estimates and forecasts

Data shows that the Rocket Companies Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -9.16% over the past 6 months, a -47.93% in annual growth rate that is considerably lower than the industry average of 9.10%. Year-over-year growth is forecast to reach -30.50% down from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $2.93 billion. 9 analysts are of the opinion that Rocket Companies Inc.’s revenue for the quarter ending Sep 2021 will be $2.41 billion. The company’s revenue for the corresponding quarters a year ago was $5.31 billion and $4.56 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -44.80%. The estimates for the next quarter sales put growth at -47.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -33.10%. The 2021 estimates are for Rocket Companies Inc. earnings to decrease by -48.70%, but the outlook for the next 5-year period is at 43.66% per year.

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

If we look at who the major shareholders are, we find that insiders hold 1.22% of Rocket Companies Inc. shares while 54.25% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 54.92%. There are 54.25% institutions holding the Rocket Companies Inc. stock share, with Caledonia (Private) Investments Pty Ltd the top institutional holder. As of Mar 30, 2021, the company held 7.00% of the shares, roughly 9.55 million RKT shares worth $220.48 million.

Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 4.67% or 6.38 million shares worth $147.23 million as of Mar 30, 2021.

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Among Mutual Funds, the top two as of Jan 30, 2021 were Invesco Main Street Fund and Vanguard Total Stock Market Index Fund. With 5.53 million shares estimated at $118.19 million under it, the former controlled 4.05% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.40% of the shares, roughly 3.27 million shares worth around $75.48 million.

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