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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $32.35, moving +0.06% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 16.59% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 21.49% and lagging the S&P 500's loss of 11.67% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be November 9, 2022. The company is expected to report EPS of -$1.77, up 76.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $521.47 million, up 52046.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$6.75 per share and revenue of $1.76 billion. These totals would mark changes of +54.33% and +3100.66%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.05% higher. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $32.35, moving +0.06% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 16.59% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 21.49% and lagging the S&P 500's loss of 11.67% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be November 9, 2022. The company is expected to report EPS of -$1.77, up 76.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $521.47 million, up 52046.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$6.75 per share and revenue of $1.76 billion. These totals would mark changes of +54.33% and +3100.66%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.05% higher. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.