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Rivian Automotive (RIVN) Stock Declines While Market Improves: Some Information for Investors
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $15.25, moving -2.18% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.26%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.48%.
The stock of a manufacturer of motor vehicles and passenger cars has risen by 14.89% in the past month, leading the Auto-Tires-Trucks sector's gain of 14.28% and the S&P 500's gain of 2.87%.
Market participants will be closely following the financial results of Rivian Automotive in its upcoming release. The company is forecasted to report an EPS of -$0.73, showcasing a 29.13% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.47 billion, showing a 68.08% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$2.73 per share and a revenue of $5.3 billion, demonstrating changes of +32.43% and +6.59%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive is currently sporting a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 84, placing it within the top 35% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Rivian Automotive (RIVN) Stock Declines While Market Improves: Some Information for Investors
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $15.25, moving -2.18% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.26%. On the other hand, the Dow registered a gain of 0.15%, and the technology-centric Nasdaq increased by 0.48%.
The stock of a manufacturer of motor vehicles and passenger cars has risen by 14.89% in the past month, leading the Auto-Tires-Trucks sector's gain of 14.28% and the S&P 500's gain of 2.87%.
Market participants will be closely following the financial results of Rivian Automotive in its upcoming release. The company is forecasted to report an EPS of -$0.73, showcasing a 29.13% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.47 billion, showing a 68.08% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$2.73 per share and a revenue of $5.3 billion, demonstrating changes of +32.43% and +6.59%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive is currently sporting a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 84, placing it within the top 35% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.