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Demand for mortgage originations is in the midst of a 50%+ decline. Meanwhile, competition for mortgage volume is still rising. As a result, mortgage banking profitability is plunging. I expect Rocket to earn $1.00 EPS or less in '22 and '23, well below consensus. Investor...
The mortgage industry faces significant headwinds in rising interest rates and declining refinance volume. UWMC is better poised than its competitors, including Rocket Mortgage, to pivot to the home purchase market. UWMC has a reasonably attractive valuation even when accounting f...
InvestorPlace - Stock Market News, Stock Advice & Trading Tips At the end of last month, shares of Clover Heath Investments (NASDAQ: CLOV ) rallied from a “multiple bottom” signal. This is one of many Reddit stocks that demonstrated a classic short squeeze in the la...
Black Knight's Originations Market Monitor shows overall rate lock volume fell 11.3% in April with cash-out (-13%) and rate/term (-20%) refinancing locks dropping more than purchase locks.April's month-end average conforming 30-year rate, at 3.17%, was down 17 basis points from March, but up ...
InvestorPlace - Stock Market News, Stock Advice & Trading Tips This week we learned that Quicken Loans will officially change its name to Rocket Mortgage (NYSE: RKT ). If it’s good enough for them to commit to that change, then it’s good for me to buy RKT stock. ...
Rocket Companies ([[RKT]] -1.8%) stock sinks to its lowest point since its IPO last August, extending its decline for a sixth straight session after the mortgage lender's Q1 earnings missed estimates and its guidance disappointed.The stock fell as low as $16.22 in Thursday trading, about 9.9%...
Rocket Companies has seen a strong first quarter in terms of volumes as margins took a small hit. The company guides for continued healthy volumes yet sees further margin pressure in the second quarter. This is not unexpected, yet margin pressure is substantial, more than I believ...
Andaz is an Australia-based performance-oriented specialist investment manager managing only one equity strategy. Yizhong Chan is the Founder and Executive Chairman and also serves as the portfolio manager for all. The Andaz performance for the month of April was +0.26% before fees, e...
One Giant Leap: Quicken Loans Announces It's Changing Name to Rocket Mortgage The 'Rocket' name is synonymous with simplifying traditionally complex transactions to make processes easier for consumers PR Newswire DETROIT , May 12, 2021 /PRNewswire/ -- Quicken...
Mortgage originators tend to not get a lot of respect from Wall Street analysts. The companies are shunned because they operate in highly cyclical business environments, which ebb and flow with changes in interest rates and their direct effect on mortgage rates. Mortgage rates had been drop...
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Rocket Companies to Announce Second Quarter 2024 Results on August 1 PR Newswire DETROIT , July 18, 2024 /PRNewswire/ -- Rocket Companies, Inc. (NYSE: RKT) ("Rocket Companies" or the "Company"), the Detroit -based fintech platform company including mortg...
2024-07-09 07:15:06 ET Barclays analyst issues UNDERWEIGHT recommendation for RKT on July 9, 2024 05:51AM ET. The previous analyst recommendation was Underweight. RKT was trading at $13.27 at issue of the analyst recommendation. The overall analyst consensus : HOLD. ...