As well, today’s trend of record housing prices means home equity cash-out refinancing is growing. Home-purchase loans are less rate sensitive than straight-up refinancing of existing mortgages. But is there a chance bears are too optimistic and RKT bulls too fearfully nearsighted? Possibly. Chiming in on that front, InvestorPlace’s Mark Hake sees fair value for RKT shares at $11. More problematic, combined with a projected drop in production volume, Rocket could be facing a drop of 32% in gross margins. If RKT’s forecast is correct, a range of 2.65% to 2.95% will mark a new one-year low for its gain-on-sale margin. 7 Cheap Stocks With Dividends for Both Returns and Cash Flow.Today, it continues to trend in the wrong direction. In Q2 of last year, the figure stood at 5.19%. Most troubling for RKT bulls was the company’s forecasted gain-on-sales margin which accounts for the gross profit Rocket captures on each loan. Nice, right?īut management cautiously revised its outlook lower given the growing likelihood of rising mortgage rates. At the same time, revenues of $4.6 billion soared by 236%. By the numbers Rocket delivered net income of $1.8 billion, which jumped 170% from the year-ago period. In a nutshell, headline earnings and revenues for RKT’s first quarter offered outstanding and street-topping growth.
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