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Rivian Automotive (RIVN) Exceeds Market Returns: Some Facts to Consider
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Rivian Automotive (RIVN - Free Report) ended the recent trading session at $15.45, demonstrating a +1.05% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.51% for the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 0.48%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 8.99% lagged the Auto-Tires-Trucks sector's gain of 2.05% and the S&P 500's gain of 0.74%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.67, reflecting a 4.29% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.92 billion, indicating a 23.27% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.25 per share and a revenue of $7.29 billion, representing changes of +8.16% and +35.36%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 past month, there's been no change in the Zacks Consensus EPS estimate. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 48, placing it within the top 20% of over 250 industries.
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) Exceeds Market Returns: Some Facts to Consider
Rivian Automotive (RIVN - Free Report) ended the recent trading session at $15.45, demonstrating a +1.05% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.51% for the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 0.48%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 8.99% lagged the Auto-Tires-Trucks sector's gain of 2.05% and the S&P 500's gain of 0.74%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.67, reflecting a 4.29% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.92 billion, indicating a 23.27% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$2.25 per share and a revenue of $7.29 billion, representing changes of +8.16% and +35.36%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 past month, there's been no change in the Zacks Consensus EPS estimate. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 48, placing it within the top 20% of over 250 industries.
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.