Rocket Companies Inc (RKT)

[Wise Man]

You are using only 100 million shares for your calculation.
That's the amount of shares in the IPO, but I've read that the CEO and other company own 95% of the shares outstanding, which brings the total common shares outstanding to 2 billion.
That's why the Market Capitalization today is $50.6 billion.

With your estimation of Net Income for the year, the EPS is $0.29. Using also your PE multiple of 8 times, the fair-value is $2.4 ps.
This compares with your $48 ps target price.

Big difference when you use the real numbers!!!!!!!!!

As per my prior assertion, I meant that the fair-value loss in the MSRs of $971 million, almost erodes the Net Income.