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Sep 03, 2020

Rocket Cos (RKT, $27.17) shares plunge, despite Q1 profit

Rocket Cos.  Shares were plunging  in premarket trading Thursday, despite following the company’s first quarter positive earnings. The company had its IPO last month.

The parent company of mortgage-lending giant Quicken Loans reported earnings of $3.5 billion (compared to a loss of -$54 million in the year-ago period). Adjusted earnings before interest, taxes, depreciation and amortization were $3.8 billion.

Quarterly revenue came in at $5 billion.

The company’s closed origination volume in the quarter was a record $72.3 billion, a +126% surge year-over-year.

Rocket posted net-rate lock volume of $92 billion, up +170% from the year ago period. It expects third-quarter net rate lock volume in the range of $93 billion to $98 billion.

 

Related Ticker: RKT

RKT's Stochastic Oscillator remains in overbought zone for 2 days

Expect a price pull-back in the near future.

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day moving average for RKT crossed bearishly below the 50-day moving average on February 07, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 12 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where RKT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

RKT broke above its upper Bollinger Band on February 29, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

The Aroon Indicator for RKT entered a downward trend on March 01, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on February 28, 2024. You may want to consider a long position or call options on RKT as a result. In of 52 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for RKT just turned positive on February 27, 2024. Looking at past instances where RKT's MACD turned positive, the stock continued to rise in of 28 cases over the following month. The odds of a continued upward trend are .

RKT moved above its 50-day moving average on February 29, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RKT advanced for three days, in of 211 cases, the price rose further within the following month. The odds of a continued upward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. RKT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.769) is normal, around the industry mean (4.400). P/E Ratio (30.211) is within average values for comparable stocks, (29.469). Projected Growth (PEG Ratio) (1.440) is also within normal values, averaging (4.039). RKT has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.047). P/S Ratio (6.873) is also within normal values, averaging (24.442).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. RKT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 80, placing this stock worse than average.

Notable companies

The most notable companies in this group are VISA (NYSE:V), Mastercard (NYSE:MA), American Express Company (NYSE:AXP), PayPal Holdings (NASDAQ:PYPL), Capital One Financial (NYSE:COF), United Rentals (NYSE:URI), Discover Financial Services (NYSE:DFS), Synchrony Financial (NYSE:SYF), SLM Corp (NASDAQ:SLM), Bread Financial Holdings (NYSE:BFH).

Industry description

A leasing company (e.g. United Rentals, Inc. ) is typically the legal owner of the asset for the duration of the lease, while the lessee has operating control over the asset while also having some share of the economic risks and returns from the change in the valuation of the underlying asset. Per capita disposable income and corporate earnings or cash flow could be some of the critical metrics for this business – the higher the values of these metrics, the potentially greater ability of consumers/businesses to afford apartments/office spaces for rent. Other finance companies include credit/debit card payment processing companies (e.g. Visa Inc. and Mastercard), private label credit cards providers (e.g. Synchrony Financial) and automobile finance companies (e.g. Credit Acceptance Corporation).

Market Cap

The average market capitalization across the Finance/Rental/Leasing Industry is 11.1B. The market cap for tickers in the group ranges from 2.17K to 581.63B. V holds the highest valuation in this group at 581.63B. The lowest valued company is AZNVF at 2.17K.

High and low price notable news

The average weekly price growth across all stocks in the Finance/Rental/Leasing Industry was 2%. For the same Industry, the average monthly price growth was 2%, and the average quarterly price growth was 18%. STXMF experienced the highest price growth at 245%, while AAN experienced the biggest fall at -31%.

Volume

The average weekly volume growth across all stocks in the Finance/Rental/Leasing Industry was 5%. For the same stocks of the Industry, the average monthly volume growth was -5% and the average quarterly volume growth was 26%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 46
P/E Growth Rating: 64
Price Growth Rating: 50
SMR Rating: 66
Profit Risk Rating: 79
Seasonality Score: -21 (-100 ... +100)
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RKTDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a company, which engages in the provision of a suite of services related to homeownership and other personal financial transactions

Industry FinanceRentalLeasing

Profile
Fundamentals
Details
Industry
N/A
Address
1050 Woodward Avenue
Phone
+1 313 373-7990
Employees
14700
Web
https://ir.rocketcompanies.com
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RKT and

Correlation & Price change

A.I.dvisor indicates that over the last year, RKT has been loosely correlated with PFSI. These tickers have moved in lockstep 59% of the time. This A.I.-generated data suggests there is some statistical probability that if RKT jumps, then PFSI could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To RKT
1D Price
Change %
RKT100%
-1.71%
PFSI - RKT
59%
Loosely correlated
-0.78%
UWMC - RKT
58%
Loosely correlated
-2.59%
WD - RKT
54%
Loosely correlated
-1.80%
LDI - RKT
52%
Loosely correlated
-5.43%
SOFI - RKT
48%
Loosely correlated
-4.56%
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