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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
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In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $12.04, marking a +0.33% move from the previous day. This change outpaced the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 7.41% over the past month, lagging the Auto-Tires-Trucks sector's loss of 2.81% and the S&P 500's gain of 2.61% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release, which is expected to be May 9, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.50 per share, which would represent a year-over-year decline of 4.9%. Our most recent consensus estimate is calling for quarterly revenue of $684.09 million, up 620.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.52 per share and revenue of $4.21 billion, which would represent changes of +12.93% and +154.22%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 106, putting it in the top 43% 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
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $12.04, marking a +0.33% move from the previous day. This change outpaced the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.68%, and the tech-heavy Nasdaq lost 10.47%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 7.41% over the past month, lagging the Auto-Tires-Trucks sector's loss of 2.81% and the S&P 500's gain of 2.61% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release, which is expected to be May 9, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.50 per share, which would represent a year-over-year decline of 4.9%. Our most recent consensus estimate is calling for quarterly revenue of $684.09 million, up 620.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.52 per share and revenue of $4.21 billion, which would represent changes of +12.93% and +154.22%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 106, putting it in the top 43% 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.