The closing price of Rocket Companies Inc. (NYSE: RKT) was $8.94 for the day, down -2.19% from the previous closing price of $9.14. In other words, the price has decreased by -$0.20 from its previous closing price. On the day, 2206753 shares were traded. RKT stock price reached its highest trading level at $9.22 during the session, while it also had its lowest trading level at $8.91.
Our analysis of RKT’s different ratios will help us gain a deeper understanding of the company. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 20.75 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 1.23. In the meantime, Its Debt-to-Equity ratio is 20.13 whereas as Long-Term Debt/Eq ratio is at 7.25.
Upgrades & Downgrades
JP Morgan Downgraded its Overweight to Neutral on September 06, 2022, whereas the target price for the stock was revised from $11 to $8.50.
Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Dec 27 when Rizik Matthew bought 2,000 shares for $6.95 per share. The transaction valued at 13,900 led to the insider holds 571,502 shares of the business.
Rizik Matthew bought 2,900 shares of RKT for $21,170 on Dec 23. The Director now owns 569,502 shares after completing the transaction at $7.30 per share. On Dec 22, another insider, Rizik Matthew, who serves as the Director of the company, bought 3,000 shares for $7.31 each. As a result, the insider paid 21,930 and bolstered with 566,602 shares of the company.
As of this moment, Rocket’s Price-to-Earnings (P/E) ratio for their current fiscal year is 8.56, and their Forward P/E ratio for the next fiscal year is 372.50. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.11 while its Price-to-Book (P/B) ratio in mrq is 1.91.
Stock Price History:
Over the past 52 weeks, RKT has reached a high of $13.30, while it has fallen to a 52-week low of $5.97. The 50-Day Moving Average of the stock is 7.86, while the 200-Day Moving Average is calculated to be 8.16.
RKT traded an average of 3.13M shares per day over the past three months and 3.07M shares per day over the past ten days. A total of 115.37M shares are outstanding, with a floating share count of 114.09M. Insiders hold about 5.90% of the company’s shares, while institutions hold 65.20% stake in the company. Shares short for RKT as of Oct 13, 2022 were 33.4M with a Short Ratio of 36.25M, compared to 30.63M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 28.92% and a Short% of Float of 29.18%.
The firm’s stock currently is rated by 14 analysts. On average, analysts expect EPS of -$0.03 for the current quarter, with a high estimate of $0.01 and a low estimate of -$0.09, while EPS last year was $0.57. The consensus estimate for the next quarter is $0.01, with high estimates of $0.1 and low estimates of -$0.07.
Analysts are recommending an EPS of between $0.26 and -$0.01 for the fiscal current year, implying an average EPS of $0.11. EPS for the following year is $0.51, with 15 analysts recommending between $0.79 and $0.1.
It is expected that $90B in revenue will be generated in the current quarter, according to 10 analysts. It ranges from a high estimate of $1.19B to a low estimate of $888M. As of the current estimate, Rocket Companies Inc.’s year-ago sales were $3.11B, an estimated decrease of -65.80% from the year-ago figure. For the next quarter, 10 analysts are estimating revenue of $1.09B, a decrease of -58.10% over than the figure of -$65.80% in the same quarter last year. There is a high estimate of $1.45B for the next quarter, whereas the lowest estimate is $792M.
A total of 11 analysts have provided revenue estimates for RKT’s current fiscal year. The highest revenue estimate was $6.68B, while the lowest revenue estimate was $5.74B, resulting in an average revenue estimate of $6.26B. In the same quarter a year ago, actual revenue was $12.91B, down -51.60% from the average estimate. Based on 12 analysts’ estimates, the company’s revenue will be $5.62B in the next fiscal year. The high estimate is $6.95B and the low estimate is $4.36B. The average revenue growth estimate for next year is down -10.10% from the average revenue estimate for this year.