We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Unveiling Rocket Companies (RKT) Q2 Outlook: Wall Street Estimates for Key Metrics
Read MoreHide Full Article
Wall Street analysts forecast that Rocket Companies (RKT - Free Report) will report quarterly earnings of $0.05 per share in its upcoming release, pointing to a year-over-year increase of 350%. It is anticipated that revenues will amount to $1.23 billion, exhibiting a decline of 0.7% compared to the year-ago quarter.
The current level reflects a downward revision of 2.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
That said, let's delve into the average estimates of some Rocket Companies metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Revenue- Loan servicing income- Servicing fee income' should arrive at $359.16 million. The estimate indicates a change of +4.5% from the prior-year quarter.
Analysts expect 'Revenue- Loan servicing income- Change in fair value of MSRs' to come in at -$211.59 million. The estimate points to a change of -599.3% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Other income' should come in at $264.67 million. The estimate points to a change of +20.8% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Gain on sale of loans, net' will reach $731.73 million. The estimate indicates a change of +23.1% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Interest income, net' reaching $38.25 million. The estimate indicates a change of +4.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of MSRs, net' of $428.30 million. The estimate indicates a change of +53.2% from the prior-year quarter.
The consensus estimate for 'Revenue- Gain on sale of loans- Fair value of originated MSRs' stands at $310.76 million. The estimate points to a change of -1.3% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Loan servicing income, net' will reach $149.21 million. The estimate indicates a year-over-year change of -61.3%.
Analysts forecast 'Revenue- Interest income- Interest income' to reach $93.28 million. The estimate suggests a change of +15.5% year over year.
Shares of Rocket Companies have experienced a change of +21.9% in the past month compared to the +0.1% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), RKT is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Unveiling Rocket Companies (RKT) Q2 Outlook: Wall Street Estimates for Key Metrics
Wall Street analysts forecast that Rocket Companies (RKT - Free Report) will report quarterly earnings of $0.05 per share in its upcoming release, pointing to a year-over-year increase of 350%. It is anticipated that revenues will amount to $1.23 billion, exhibiting a decline of 0.7% compared to the year-ago quarter.
The current level reflects a downward revision of 2.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements 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.
That said, let's delve into the average estimates of some Rocket Companies metrics that Wall Street analysts commonly model and monitor.
Based on the collective assessment of analysts, 'Revenue- Loan servicing income- Servicing fee income' should arrive at $359.16 million. The estimate indicates a change of +4.5% from the prior-year quarter.
Analysts expect 'Revenue- Loan servicing income- Change in fair value of MSRs' to come in at -$211.59 million. The estimate points to a change of -599.3% from the year-ago quarter.
According to the collective judgment of analysts, 'Revenue- Other income' should come in at $264.67 million. The estimate points to a change of +20.8% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Gain on sale of loans, net' will reach $731.73 million. The estimate indicates a change of +23.1% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Interest income, net' reaching $38.25 million. The estimate indicates a change of +4.3% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of MSRs, net' of $428.30 million. The estimate indicates a change of +53.2% from the prior-year quarter.
The consensus estimate for 'Revenue- Gain on sale of loans- Fair value of originated MSRs' stands at $310.76 million. The estimate points to a change of -1.3% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Loan servicing income, net' will reach $149.21 million. The estimate indicates a year-over-year change of -61.3%.
Analysts forecast 'Revenue- Interest income- Interest income' to reach $93.28 million. The estimate suggests a change of +15.5% year over year.
View all Key Company Metrics for Rocket Companies here>>>
Shares of Rocket Companies have experienced a change of +21.9% in the past month compared to the +0.1% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), RKT is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>