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Rivian Automotive (RIVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Rivian Automotive (RIVN - Free Report) closed at $15.11 in the latest trading session, marking a -8.57% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.37%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 1.33%.
The stock of a manufacturer of motor vehicles and passenger cars has risen by 16.17% in the past month, leading the Auto-Tires-Trucks sector's gain of 0.49% and the S&P 500's gain of 2.02%.
Market participants will be closely following the financial results 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. Alongside, our most recent consensus estimate is anticipating revenue of $1.44 billion, indicating a 10.34% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.41 per share and revenue of $7.02 billion. These totals would mark changes of +1.63% and +30.33%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 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.
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) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Rivian Automotive (RIVN - Free Report) closed at $15.11 in the latest trading session, marking a -8.57% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.37%. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq lost 1.33%.
The stock of a manufacturer of motor vehicles and passenger cars has risen by 16.17% in the past month, leading the Auto-Tires-Trucks sector's gain of 0.49% and the S&P 500's gain of 2.02%.
Market participants will be closely following the financial results 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. Alongside, our most recent consensus estimate is anticipating revenue of $1.44 billion, indicating a 10.34% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.41 per share and revenue of $7.02 billion. These totals would mark changes of +1.63% and +30.33%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.