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Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $14.47, moving -1.09% from the previous trading session. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 3.3% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.28%, while the S&P 500 gained 1.24%.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be May 9, 2023. The company is expected to report EPS of -$1.49, down 4.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $711.98 million, up 649.46% from the year-ago period.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$5.52 per share and revenue of $4.52 billion. These results would represent year-over-year changes of +12.93% and +172.55%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.62% lower 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 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 Sinks As Market Gains: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $14.47, moving -1.09% from the previous trading session. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 3.3% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.28%, while the S&P 500 gained 1.24%.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be May 9, 2023. The company is expected to report EPS of -$1.49, down 4.2% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $711.98 million, up 649.46% from the year-ago period.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$5.52 per share and revenue of $4.52 billion. These results would represent year-over-year changes of +12.93% and +172.55%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.62% lower 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 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.