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Rivian Automotive (RIVN) Increases Yet Falls Behind Market: What Investors Need to Know
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The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $16.04, reflecting a +0.06% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.29% gain on the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
Shares of the a manufacturer of motor vehicles and passenger cars have depreciated by 30.94% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 7% and the S&P 500's gain of 2.08%.
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. The company's earnings per share (EPS) are projected to be -$1.37, reflecting a 20.81% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, up 90.56% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.8% downward. Currently, Rivian Automotive is carrying a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 26% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Rivian Automotive (RIVN) Increases Yet Falls Behind Market: What Investors Need to Know
The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $16.04, reflecting a +0.06% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.29% gain on the day. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
Shares of the a manufacturer of motor vehicles and passenger cars have depreciated by 30.94% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 7% and the S&P 500's gain of 2.08%.
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. The company's earnings per share (EPS) are projected to be -$1.37, reflecting a 20.81% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.26 billion, up 90.56% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.8% downward. Currently, Rivian Automotive is carrying a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 188, this industry ranks in the bottom 26% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.