Shares of Rocket Companies Inc. (RKT) are currently trading at $23.80, up $3.90 or 19.60% in the pre-market session today, after the company reported stellar Q4 results.
The stock closed Thursday's trading session at $19.90, down $0.42 or 2.07%, with trading volume of over 11.8 million versus an average volume of 10.5 million shares.
The company reported Q4 net income of $2.84 billion versus $754.17 million last year. Net income attributable to company for the quarter was $140.05 million or $1.09 per share. Adjusted earnings for the latest fourth quarter was $1.14 per share.
Total revenue grew to $4.70 billion from $1.93 billion last year. Adjusted revenue rose to $4.8 billion from $1.8 billion in the previous year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share and revenues of $3.92 billion. Analysts' estimates typically exclude certain special items.
The company has declared a special dividend of $1.11 per share payable on March 23, 2021 to holders of Class A common stock of record at the close of business on March 9, 2021. The company said it will fund the special dividend from cash distributions of about $2.2 billion.
For the first-quarter, the company expects closed loan volume to be between $98 billion and $103 billion, or an increase of 90% - 99% compared to $51.7 billion in the first quarter of 2020.
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