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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 at $25.52 in the latest trading session, marking a -1.51% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 75.78% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 24.22% and the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be August 8, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.43 per share, which would represent year-over-year growth of 24.34%. Our most recent consensus estimate is calling for quarterly revenue of $932.31 million, up 156.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.12 per share and revenue of $4.16 billion. These totals would mark changes of +19.24% and +151.14%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.55% higher within the past month. Rivian Automotive currently has a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $25.52 in the latest trading session, marking a -1.51% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq added 5.61%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 75.78% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 24.22% and the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be August 8, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.43 per share, which would represent year-over-year growth of 24.34%. Our most recent consensus estimate is calling for quarterly revenue of $932.31 million, up 156.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.12 per share and revenue of $4.16 billion. These totals would mark changes of +19.24% and +151.14%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.55% higher within the past month. Rivian Automotive currently has a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.