Back to top

Image: Bigstock

Rivian Automotive (RIVN) Rises As Market Takes a Dip: Key Facts

Read MoreHide Full Article

The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $8.74, reflecting a +0.34% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.58%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq lost 1.15%.

The the stock of a manufacturer of motor vehicles and passenger cars has fallen by 22.65% in the past month, lagging the Auto-Tires-Trucks sector's loss of 3.4% and the S&P 500's loss of 1.09%.

The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is slated to reveal its earnings on May 7, 2024. The company is expected to report EPS of -$1.13, up 9.6% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.1 billion, up 66.59% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of -$3.94 per share and a revenue of $4.73 billion, demonstrating changes of +19.26% and +6.71%, respectively, from the preceding year.

Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, 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 past month, the Zacks Consensus EPS estimate has shifted 0.1% downward. 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 has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Rivian Automotive, Inc. (RIVN) - free report >>

Published in