Yes. RKT | Complete Rocket Cos. Inc. stock news by MarketWatch. Julie? Good afternoon, everybody, and thanks for taking my questions. The business had revenue of $4.74 billion for the quarter, compared to … © 2021 Benzinga.com. DETROIT, Oct. 19, 2020 Rocket Companies (RKT), Inc., a Detroit-based holding company consisting of tech-driven real estate, mortgage and financial services businesses including Rocket Mortgage, Rocket Homes and Rocket Auto today announced the Company will issue its third quarter 2020 earnings on November 10, 2020. JinkoSolar has generated $2.79 earnings per share over the last year and currently has a price-to-earnings ratio of 48.8. Your next question comes from the line of Matt Roswell from RBC. Rocket Companies Inc Cl A (RKT) reported 3rd Quarter September 2020 earnings of $1.20 per share on revenue of $4.6 billion. Power award in a row for loan origination and now leverage the brand that people know and trust and receive lead flow to allow them to grow their businesses as well. Thank you, Jay, and good afternoon, everyone. However since March, these spreads have remained well above historical averages. So they've largely been absorbed at this point and are fully priced into the margins. Good afternoon, everyone. Subscribe to Premium to view Fair Value for RKT. Moving on to our outlook. Change Q3-20 vs Q3-19. For instance, the National Association of Realtors' existing home sales report showed that September sales of previously owned homes were more than 20% higher than the same month in 2019. The sequential change from record gain on sale margins of 5.19% in the second quarter was driven primarily by changes in channel and product mix. Posted-In: Bank of America Credit SuisseAnalyst Color Earnings News Price Target Top Stories Analyst Ratings Best of Benzinga, Thank you for subscribing! We are also adding hundreds of thousands of new clients into our ecosystem, creating an expanding foundation for future growth. Image source: The Motley Fool. It is now where we work, where we teach our children and where we gather with friends, bringing new meaning and significance to the place where we live, our home. And so we continue on our path, building all of the right long-term strategies to allow the company to achieve that long-term goal of 25% market share by 2030. And when you add in our seven consecutive No. Consumers today don't just prefer, they demand a completely digital experience. Largely, most of that pricing has been absorbedand we got a test run at it before the changes that were made a month or so ago. Past Earnings. Benzinga does not provide investment advice. Earlier this afternoon, Gossamer Bio issued a press release announcing its financial results for the third quarter ended September 30, 2020 in addition to providing a corporate update. I know on the last call, you talked about your objectives in terms of building capacity for next year. Yeah. We've become the household name when it comes to thinking about a great high-quality mortgage or now real estate experience, spending nearly, what, $900 million, close to $1 billion in marketing. One sort of business related and then one stock related. In fact, I think Q3 was the strongest -- one of our strongest purchase quarters, and we issued more verified approval letters to clients in Q3 than any other quarter in our company's history. While the F1 consensus estimate and revision is a key driver of stock prices, the Q1 consensus is an important item as well, especially over the short-term, and particularly as a … Ryan McKeveny -- Zelman and Associates -- Analyst. Hey, good evening. Also, recent reports in the New York Times and San Francisco Chronicle tell of residents moving from the city centers to buy homes in the surrounding suburbs in search of more space. Hey, I wanted to revisit the buyback versus the special dividend, pretty thin float. So Julie, can you maybe just talk about how gain-on-sale spreads trended across the quarter given that they came in well above the guidance? View the Latest Analyst Ratings. Your next question comes from the line of Mark DeVries from Barclays. The reaction from those in the real estate community has been overwhelming. RKT: Rocket Companies, Inc. - Earnings Announcements. Julie touched on over the last two-and-a-half-plus years when we look at the volume breakdown or the kind of the reason for a refinance or a loan between purchase and cash out and term changes and life changes like divorce, north of 50% of our production is really non-interest rate-sensitive. I don't think we disclosed the percentages. We are also using automation to improve the efficiency of our operations and are now making more than one million decisions per day using machine learning. And so remember, we've got a 35-year track record here, I think, of allocating capital in a pretty strategic manner. (MFTranscribing) Nov 11, 2020 at 4:30AM. In the current environment, we are driving strong repeat transaction activity, which represented 42% of overall mortgage volume in the third quarter. Recently, we hosted Tech Con, our in-house technology conference for all Rocket Companies technologists, drawing more than 4,000 of the brightest minds in the industry. And maybe Jay, in particular, when you look at that 92%, kind of how did -- what goes through your mind in terms of the different ways that you can look to take advantage of that and increase the lifetime value of those customers? $1.21. Yeah. And I think the unique thing that we bring to the table, not only our process and our technology, but now, as we've rebranded to Rocket Pro TPO, we are giving a brand that is so highly regarded in the industry and allowing these brokers to leverage that. Yeah. Don Fandetti -- Wells Fargo Securities -- Analyst. Because of our unique business model, our recapture rate is more than four times the industry average based on the latest figures from Black Knight. Rather than calling one of our mortgage bankers or asking the client, real estate agents can now use Rocket Pro Insight to check in on a loan status. RKT 's fiscal year ends in December. Breaking down the 67-basis-point variance in gain-on-sale margins sequentially, changes in loan pricing represented less than 10 basis points of the quarter-over-quarter difference in our gain-on-sale margins. Now we look at 213 billion in the same nine-month period in 2020. Your next question comes from the line of Jack Micenko from SIG. JPMorgan Upgrades Rocket Companies, Predicts Rotation To Credit-Sensitive Stocks, Rocket Mortgage Super Bowl Squares Sweepstakes Are Back And Bigger Than Ever, 'Fast Money Halftime Report' Picks For December 29, PreMarket Prep Stock Of The Day: Rocket Companies, Benzinga's Top Upgrades, Downgrades For December 18, 2020, Bestow CEO Talks Booming Insurtech Business, Transformative Centurion Acquisition, Pete Najarian Sees Unusual Options Activity In Spirit And Rocket Companies, EUR/USD Forecast: At Risk Of Extending Its Latest Decline Towards The 1.2000 Figure. In the third quarter, we delivered a record performance with $89 billion of closed loan volume, representing a 122% increase year over year. Our mission is simple. At the same time, the digital transformation of the lending process has become more important than ever as an unprecedented number of consumers look to leverage today's favorable interest rates. These companies join others, including Allstate and Liberty Mutual, in helping provide a digital solution to lenders looking to confirm the presence of an insurance policy in real time, eliminating the need to manually call to confirm, a process that is deceptively tedious. All of these processes get better with scale, strengthening our competitive lead and reinforcing the Rocket Companies' flywheel. And our clients of currently trading to be a trailblazer, digitizing the title industry like! Hard work of the shares that are kind of episodic whenever you see opportunities in your stock or special! Homebuyers who can receive loan approvals within minutes that technology probably a question, how are the efforts into. By channel mix expectations versus competition being recorded increased loan origination volume to announce an addition our. With our clients funded when it is sold to investors on the clients who remain active with Rocket as potential. 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