We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rivian Automotive (RIVN) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $17.82, marking a -1.33% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
The a manufacturer of motor vehicles and passenger cars's shares have seen a decrease of 24.12% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 4.68% and the S&P 500's gain of 1.56%.
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. On that day, Rivian Automotive is projected to report earnings of -$1.37 per share, which would represent year-over-year growth of 20.81%. Alongside, our most recent consensus estimate is anticipating revenue of $1.26 billion, indicating an 89.33% upward movement from the same quarter last year.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. Right now, Rivian Automotive possesses a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rivian Automotive (RIVN) Suffers a Larger Drop Than the General Market: Key Insights
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $17.82, marking a -1.33% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow experienced a drop of 0.62%, and the technology-dominated Nasdaq saw a decrease of 0.19%.
The a manufacturer of motor vehicles and passenger cars's shares have seen a decrease of 24.12% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 4.68% and the S&P 500's gain of 1.56%.
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. On that day, Rivian Automotive is projected to report earnings of -$1.37 per share, which would represent year-over-year growth of 20.81%. Alongside, our most recent consensus estimate is anticipating revenue of $1.26 billion, indicating an 89.33% upward movement from the same quarter last year.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.04% decrease. Right now, Rivian Automotive possesses a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.