We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $31.99, marking a -0.78% move from the previous day. This change lagged the S&P 500's daily gain of 1.36%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 12.3% over the past month, lagging the Auto-Tires-Trucks sector's loss of 4.35% and the S&P 500's gain of 1.2% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2022. On that day, Rivian Automotive is projected to report earnings of -$1.78 per share, which would represent year-over-year growth of 76.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $513.89 million, up 51289% from the year-ago period.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.44 per share and revenue of $1.76 billion. These results would represent year-over-year changes of +56.43% and +3099.4%, respectively.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 has moved 0.04% lower within the past month. 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 industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $31.99, marking a -0.78% move from the previous day. This change lagged the S&P 500's daily gain of 1.36%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 12.3% over the past month, lagging the Auto-Tires-Trucks sector's loss of 4.35% and the S&P 500's gain of 1.2% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release, which is expected to be November 9, 2022. On that day, Rivian Automotive is projected to report earnings of -$1.78 per share, which would represent year-over-year growth of 76.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $513.89 million, up 51289% from the year-ago period.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.44 per share and revenue of $1.76 billion. These results would represent year-over-year changes of +56.43% and +3099.4%, respectively.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 has moved 0.04% lower within the past month. 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 industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.