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Rivian Automotive (RIVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Rivian Automotive (RIVN - Free Report) ending at $19.25, denoting a -1.69% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.15%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.
The the stock of a manufacturer of motor vehicles and passenger cars has risen by 3.32% in the past month, leading the Auto-Tires-Trucks sector's gain of 2.96% and undershooting the S&P 500's gain of 3.5%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's earnings report is expected on February 21, 2024. In that report, analysts expect Rivian Automotive to post earnings of -$1.37 per share. This would mark year-over-year growth of 20.81%. At the same time, our most recent consensus estimate is projecting a revenue of $1.26 billion, reflecting an 89.33% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 104, finds itself in the top 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Rivian Automotive (RIVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Rivian Automotive (RIVN - Free Report) ending at $19.25, denoting a -1.69% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.15%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq increased by 0.09%.
The the stock of a manufacturer of motor vehicles and passenger cars has risen by 3.32% in the past month, leading the Auto-Tires-Trucks sector's gain of 2.96% and undershooting the S&P 500's gain of 3.5%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's earnings report is expected on February 21, 2024. In that report, analysts expect Rivian Automotive to post earnings of -$1.37 per share. This would mark year-over-year growth of 20.81%. At the same time, our most recent consensus estimate is projecting a revenue of $1.26 billion, reflecting an 89.33% rise from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 104, finds itself in the top 42% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.