Rocket Cos Inc. (RKT) PT Lowered to $21 at Barclays
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Rocket Companies (RKT) Collapses 15% on Q1 Miss, Analyst Lowers PT to Reflect Weak Outlook
May 6, 2021 11:32 AM EDTShares of Rocket Companies (NYSE: RKT) are down by over 15% in todays trading session after the company missed on analysts estimates for Q1.
The leading mortgage provider reported non-GAAP EPS of $0.89 per share to miss on the $0.90 expected from the Street. GAAP EPS came in at $1.07 per share, which is better than the $0.94 expected from analysts.
Revenue also missed as it came at $4.04 billion while the Street expected $4.28 billion in sales. For Q2, RKT said expects closed loan volume of between $82.5 billion and $87.5 billion, net rate lock volume of between $81.5 billion and... More
