17-Dec-2024
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Rocket Mortgage Sues United States Department of Housing and Urban Development
PRNewswire (Thu, 5-Dec 8:16 AM ET)
Rocket Companies CFO Brian Brown to Present at Goldman Sachs 2024 U.S. Financial Services Conference
PRNewswire (Wed, 27-Nov 9:00 AM ET)
Rocket Companies Announces Third Quarter 2024 Results
PRNewswire (Tue, 12-Nov 4:05 PM ET)
Rocket Companies to Announce Third Quarter 2024 Results on November 12
PRNewswire (Tue, 29-Oct 4:05 PM ET)
PRNewswire (Mon, 7-Oct 11:54 AM ET)
Rocket Mortgage and Annaly Capital Management, Inc. Enter Strategic Subservicing Relationship
PRNewswire (Tue, 1-Oct 9:00 AM ET)
Rocket Companies is a financial services company that was originally founded as Rock Financial in 1985 and is currently based in Detroit. Rocket Companies offers a wide array of services and products but is best known for its Rocket Mortgage business. The company's mortgage lending operations are split between its direct-to-consumer lending, which sees borrowers accessing the company's lending arm directly through either its mobile app or website, and its partner network where mortgage brokers and other firms use Rocket's origination process to offer loans to their customers. The company has rapidly gained market share in recent years and is now the largest mortgage originator in the U.S. as well as the servicer for more than 2 million loans.
Rocket Companies Class A trades on the NYSE stock market under the symbol RKT.
As of December 17, 2024, RKT stock price declined to $12.13 with 1,973,127 million shares trading.
RKT has a beta of 1.97, meaning it tends to be more sensitive to market movements. RKT has a correlation of 0.21 to the broad based SPY ETF.
RKT has a market cap of $1.77 billion. This is considered a Small Cap stock.
Last quarter Rocket Companies Class A reported $1 billion in Revenue and $.08 earnings per share. This beat revenue expectation by $43 million and met earnings estimates .
In the last 3 years, RKT traded as high as $21.38 and as low as $5.97.
The top ETF exchange traded funds that RKT belongs to (by Net Assets): VTI, VO, VXF, VTV, VOT.
RKT has underperformed the market in the last year with a price return of -11.7% while the SPY ETF gained +29.8%. RKT has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -41.3% and -13.6%, respectively, while the SPY returned +7.6% and +0.1%, respectively.
RKT support price is $11.90 and resistance is $12.54 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RKT shares will trade within this expected range on the day.