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Rivian Automotive (RIVN) Stock Dips While Market Gains: Key Facts
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Rivian Automotive (RIVN - Free Report) closed at $13.50 in the latest trading session, marking a -1.6% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 0.29% over the past month, lagging the Auto-Tires-Trucks sector's gain of 10.04% and the S&P 500's gain of 4.86% in that time.
The investment community will be closely monitoring the performance of Rivian Automotive in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.90, reflecting a 24.37% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.1 billion, showing a 18.09% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4 per share and revenue of $4.77 billion. These totals would mark changes of +18.03% and +7.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.39% increase. At present, Rivian Automotive boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 41% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rivian Automotive (RIVN) Stock Dips While Market Gains: Key Facts
Rivian Automotive (RIVN - Free Report) closed at $13.50 in the latest trading session, marking a -1.6% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 0.29% over the past month, lagging the Auto-Tires-Trucks sector's gain of 10.04% and the S&P 500's gain of 4.86% in that time.
The investment community will be closely monitoring the performance of Rivian Automotive in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.90, reflecting a 24.37% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $1.1 billion, showing a 18.09% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$4 per share and revenue of $4.77 billion. These totals would mark changes of +18.03% and +7.67%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.39% increase. At present, Rivian Automotive boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 41% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.