‘Remain Cautious on Mortgage Originators’: Rocket Companies Analysts React to Mixed Q1 Earnings

‘Remain Cautious on Mortgage Originators’: Rocket Companies Analysts React to Mixed Q1 Earnings
A sign is posted in front of new homes for sale at Hamilton Cottages in Novato, Calif., on Sept. 24, 2020. Justin Sullivan/Getty Images
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Rocket Companies Inc. shares are trading lower by 5.5 percent after the mortgage lender reported a sharp decline in revenue.

On Tuesday afternoon, Rocket reported first-quarter adjusted EPS of 15 cents, missing consensus analyst estimates of 19 cents. Revenue for the quarter was $2.67 billion, beating Wall Street’s expectations of $2.17 billion. Revenue was down 41 percent from a year ago.