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Rocket Companies Inc Ordinary Shares Class A RKT Stock Quote

Morningstar Rating
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NYSE: RKT

Morningstar‘s Stock Analysis RKT

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Economic Moat

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Capital Allocation

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Higher Mortgage Interest Rates Continue to Pressure Rocket's Results in the Third Quarter

Michael Miller Equity Analyst

Analyst Note

| Michael Miller |

Narrow-moat-rated Rocket Companies reported another weak quarter as the company faced new lows for mortgage origination volume industrywide, due primarily to rapidly increasing mortgage rates, which have risen above 7%. Rocket reported net revenue of $1.3 billion, which was 58.5% below last year's results and 7% below last quarter's results. Earnings per share was $0.04 compared with $0.54 last year. Without a $400 million positive valuation adjustment on the company’s mortgage servicing assets for the third quarter, Rocket would have reported a loss.

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Key Statistics RKT

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Company Profile RKT

Business Description

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.

Contact
1050 Woodward Avenue
Detroit, MI, 48226
Sector Financial Services
Industry Mortgage Finance
Employees 26,000

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FAQs for Rocket Companies Inc Ordinary Shares Class A Stock

No. RKT does not currently have a forward dividend yield.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

Learn more about dividend yield.

RKT’s market cap is 1.04 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

Learn more about market capitalization.

RKT’s stock style is Small Value.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Learn more about style.

RKT’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare RKT’s historical performance against its industry peers and the overall market.