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Why Rivian Automotive (RIVN) Dipped More Than Broader Market Today
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Rivian Automotive (RIVN - Free Report) closed at $14.77 in the latest trading session, marking a -6.13% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Elsewhere, the Dow saw a downswing of 1.87%, while the tech-heavy Nasdaq depreciated by 1.98%.
The a manufacturer of motor vehicles and passenger cars's shares have seen an increase of 12.76% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 4.7% and the S&P 500's loss of 0.03%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is predicted to post an EPS of -$0.66, indicating a 17.5% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.44 billion, up 10.34% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.41 per share and revenue of $7.02 billion, which would represent changes of +1.63% and +30.33%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 moved 1.24% higher. Currently, Rivian Automotive is carrying a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Why Rivian Automotive (RIVN) Dipped More Than Broader Market Today
Rivian Automotive (RIVN - Free Report) closed at $14.77 in the latest trading session, marking a -6.13% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 1.62%. Elsewhere, the Dow saw a downswing of 1.87%, while the tech-heavy Nasdaq depreciated by 1.98%.
The a manufacturer of motor vehicles and passenger cars's shares have seen an increase of 12.76% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 4.7% and the S&P 500's loss of 0.03%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is predicted to post an EPS of -$0.66, indicating a 17.5% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.44 billion, up 10.34% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$2.41 per share and revenue of $7.02 billion, which would represent changes of +1.63% and +30.33%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 moved 1.24% higher. Currently, Rivian Automotive is carrying a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 182, this industry ranks in the bottom 26% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.