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Rivian Automotive (RIVN) Dips More Than Broader Market: What You Should Know
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Rivian Automotive (RIVN - Free Report) ended the recent trading session at $15.93, demonstrating a -4.5% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 24.94% outpaced the Auto-Tires-Trucks sector's loss of 0.94% and the S&P 500's gain of 2.14%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's upcoming EPS is projected at -$0.66, signifying a 17.50% increase compared to the same quarter of the previous 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 project earnings of -$2.41 per share and a revenue of $7.02 billion, demonstrating changes of +1.63% and +30.33%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 170, this industry ranks in the bottom 31% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Rivian Automotive (RIVN) Dips More Than Broader Market: What You Should Know
Rivian Automotive (RIVN - Free Report) ended the recent trading session at $15.93, demonstrating a -4.5% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 24.94% outpaced the Auto-Tires-Trucks sector's loss of 0.94% and the S&P 500's gain of 2.14%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's upcoming EPS is projected at -$0.66, signifying a 17.50% increase compared to the same quarter of the previous 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 project earnings of -$2.41 per share and a revenue of $7.02 billion, demonstrating changes of +1.63% and +30.33%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 170, this industry ranks in the bottom 31% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.