During the recent session, Rocket Companies Inc. (NYSE:RKT)’s traded shares were 0.7 million. At the last check today, the stock’s price was $7.17, reflecting an intraday gain of 2.95% or $0.21. The 52-week high for the RKT share is $19.36, that puts it down -170.01 from that peak though still a striking 12.55% gain since the share price plummeted to a 52-week low of $6.27. The company’s market capitalization is $14.04B, and the average trade volume was 4.61 million shares over the past three months.
Rocket Companies Inc. (RKT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. RKT has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 13 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 1 recommend a Buy rating for it. 2 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.29.
Rocket Companies Inc. (NYSE:RKT) trade information
Rocket Companies Inc. (RKT) registered a 2.95% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.95% in intraday trading to $7.17 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is -0.57%, and it has moved by -21.80% in 30 days. Based on these gigs, the overall price performance for the year is -60.82%.
The consensus price target of analysts on Wall Street is $8.46, which implies an increase of 15.25% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.50 and $11.00 respectively. As a result, RKT is trading at a discount of -53.42% off the target high and 9.34% 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 down -48.19% during the last six months, with a year-to-date growth rate less than the industry average at -83.19% against 14.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -37.00% this quarter and then drop -50.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -39.20% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.79 billion as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $1.82 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.92 billion and $3.11 billion respectively. In this case, analysts expect current quarter sales to shrink by -38.60% and then drop by -41.50% 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 -33.60%. While earnings are projected to return 31.70% in 2022.
Rocket Companies Inc. is due to release its next quarterly earnings between February 23 and February 28. 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 1.42% of total outstanding shares while institutional holders control 71.00%, with the float percentage being 72.03%. Invesco Ltd. is the largest shareholder of the company, while 323 institutions own stock in it. As of Dec 30, 2021, the company held over 10.3 million shares (or 8.69% of all shares), a total value of $144.18 million in shares.
The next largest institutional holding, with 9.31 million shares, is of Caledonia (Private) Investments Pty Ltd’s that is approximately 7.86% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $130.37 million.
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, 2022 indicates that Invesco Main Street Fund owns about 4.93 million shares. This amounts to just over 4.15 percent of the company’s overall shares, with a $62.25 million market value. The same data shows that the other fund manager holds slightly less at 3.83 million, or about 3.23% of the stock, which is worth about $53.6 million.