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 Falls Amid Market Uptick: What Investors Need to Know
Read MoreHide Full Article
Rivian Automotive (RIVN - Free Report) ended the recent trading session at $18.78, demonstrating a -0.74% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 18.1% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 0.34% and the S&P 500's loss of 3.39%.
The investment community will be closely monitoring the performance of Rivian Automotive in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company is predicted to post an EPS of -$1.39, indicating a 11.46% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.31 billion, up 144.69% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$5.01 per share and a revenue of $4.33 billion, demonstrating changes of +20.98% and +161.32%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Rivian Automotive possesses a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Falls Amid Market Uptick: What Investors Need to Know
Rivian Automotive (RIVN - Free Report) ended the recent trading session at $18.78, demonstrating a -0.74% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.63% for the day. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 18.1% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 0.34% and the S&P 500's loss of 3.39%.
The investment community will be closely monitoring the performance of Rivian Automotive in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. The company is predicted to post an EPS of -$1.39, indicating a 11.46% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.31 billion, up 144.69% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$5.01 per share and a revenue of $4.33 billion, demonstrating changes of +20.98% and +161.32%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Rivian Automotive possesses a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.