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Rivian Automotive (RIVN) Stock Moves -0.44%: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $31.50, moving -0.44% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.67%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 11.5% in the past month. In that same time, the Auto-Tires-Trucks sector lost 18.96%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be November 9, 2022. In that report, analysts expect Rivian Automotive to post earnings of -$1.77 per share. This would mark year-over-year growth of 76.95%. Meanwhile, our latest consensus estimate is calling for revenue of $521.47 million, up 52046.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.75 per share and revenue of $1.76 billion, which would represent changes of +54.33% and +3100.66%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. Rivian Automotive is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 133, which puts it in the bottom 48% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.
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Rivian Automotive (RIVN) Stock Moves -0.44%: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $31.50, moving -0.44% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.67%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 0.22%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 11.5% in the past month. In that same time, the Auto-Tires-Trucks sector lost 18.96%, while the S&P 500 lost 3.76%.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be November 9, 2022. In that report, analysts expect Rivian Automotive to post earnings of -$1.77 per share. This would mark year-over-year growth of 76.95%. Meanwhile, our latest consensus estimate is calling for revenue of $521.47 million, up 52046.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.75 per share and revenue of $1.76 billion, which would represent changes of +54.33% and +3100.66%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. Rivian Automotive is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 133, which puts it in the bottom 48% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.