Rocket's (RKT) higher-than-expected marketing and promotional expenses will impact Q1 earnings per share, Wedbush said in an earnings preview on Wednesday.
The firm reduced Rocket's Q1 EPS estimate to $0.02 from $0.12. Full year 2025 estimates were down to $0.38 from $0.54. Four analysts polled by FactSet expect $0.02 and $0.39 for Q1 and full year, respectively.
The firm said Rocket's valuation has come down over the past 12 months, narrowing the gap with Mr. Cooper (COOP). Currently, the valuation is calculated on the company's standalone EPS for now and will be switched to the enterprise value to adjusted earnings before interest, taxes, depreciation, and amortization multiple after the potential merger with Mr. Cooper closes.
Wedbush maintained its neutral rating on Rocket's stock with an unchanged $13 price target.
Price: 12.20, Change: -0.31, Percent Change: -2.44
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