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Rivian Automotive (RIVN) Declines More Than Market: Some Information for Investors
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The latest trading session saw Rivian Automotive (RIVN - Free Report) ending at $10.52, denoting a -1.22% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.42%.
The a manufacturer of motor vehicles and passenger cars's shares have seen a decrease of 0.47% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 0.04% and the S&P 500's gain of 2.67%.
Investors will be eagerly watching for the performance of Rivian Automotive in its upcoming earnings disclosure. In that report, analysts expect Rivian Automotive to post earnings of -$1.13 per share. This would mark year-over-year growth of 9.6%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.08 billion, indicating a 63.67% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.95 per share and a revenue of $4.74 billion, signifying shifts of +19.06% and +6.9%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.22% downward. Rivian Automotive presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 25% 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.
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) Declines More Than Market: Some Information for Investors
The latest trading session saw Rivian Automotive (RIVN - Free Report) ending at $10.52, denoting a -1.22% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.42%.
The a manufacturer of motor vehicles and passenger cars's shares have seen a decrease of 0.47% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 0.04% and the S&P 500's gain of 2.67%.
Investors will be eagerly watching for the performance of Rivian Automotive in its upcoming earnings disclosure. In that report, analysts expect Rivian Automotive to post earnings of -$1.13 per share. This would mark year-over-year growth of 9.6%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.08 billion, indicating a 63.67% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.95 per share and a revenue of $4.74 billion, signifying shifts of +19.06% and +6.9%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.22% downward. Rivian Automotive presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 25% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.