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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed at $12.68 in the latest trading session, marking a +0.24% move from the prior day. This move outpaced the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 7.95%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 16.94% over the past month, lagging the Auto-Tires-Trucks sector's loss of 12.44% and the S&P 500's gain of 1.53% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of -$1.51, down 5.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $686.82 million, up 622.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.51 per share and revenue of $4.19 billion. These totals would mark changes of +13.09% and +152.98%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $12.68 in the latest trading session, marking a +0.24% move from the prior day. This move outpaced the S&P 500's daily loss of 1.16%. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 7.95%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 16.94% over the past month, lagging the Auto-Tires-Trucks sector's loss of 12.44% and the S&P 500's gain of 1.53% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be May 9, 2023. The company is expected to report EPS of -$1.51, down 5.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $686.82 million, up 622.96% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.51 per share and revenue of $4.19 billion. These totals would mark changes of +13.09% and +152.98%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.