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Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed at $12.25 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.98%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 9.92% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.96%, while the S&P 500 gained 4.59%.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be May 9, 2023. In that report, analysts expect Rivian Automotive to post earnings of -$1.48 per share. This would mark a year-over-year decline of 3.5%. Meanwhile, our latest consensus estimate is calling for revenue of $662.59 million, up 597.46% from the prior-year quarter.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$5.51 per share and revenue of $4.21 billion. These results would represent year-over-year changes of +13.09% and +154.22%, 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 a result, we can interpret positive estimate revisions as a good sign for 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% higher. Rivian Automotive currently has 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 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Rivian Automotive (RIVN) Stock Sinks As Market Gains: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $12.25 in the latest trading session, marking a -0.81% move from the prior day. This change lagged the S&P 500's 0.09% gain on the day. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.98%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 9.92% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.96%, while the S&P 500 gained 4.59%.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be May 9, 2023. In that report, analysts expect Rivian Automotive to post earnings of -$1.48 per share. This would mark a year-over-year decline of 3.5%. Meanwhile, our latest consensus estimate is calling for revenue of $662.59 million, up 597.46% from the prior-year quarter.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$5.51 per share and revenue of $4.21 billion. These results would represent year-over-year changes of +13.09% and +154.22%, 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 a result, we can interpret positive estimate revisions as a good sign for 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% higher. Rivian Automotive currently has 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 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.