Rocket Companies jumps after Q4 profit beats estimate

UWM Holdings

28/02/2025 13:09

** Shares of Rocket Companies RKT.N jump 6.7% to $13.69 premarket

** Late-Thursday, mortgage lender's Q4 adjusted EPS beat analysts' estimate, while Q1 adjusted revenue forecast was largely below expectation

** BofA Global Research says RKT results were better-than-feared, following peer UWM Holdings' UWMC.N earnings earlier this week

** RKT says February has started to exceed its expectations and thinks 2025 will be better than 2024 amid green shoots in housing industry

** BofA Global Research reiterates "neutral" rating following Q1 forecast, says shares are likely to remain range-bound until more clarity emerges on which way rates will move

** Average rating of 14 analysts is "hold"; median PT is $13.50 - data compiled by LSEG

** Shares up 14% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))