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Rivian Automotive (RIVN) Stock Moves -0.12%: What You Should Know
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The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $16.25, reflecting a -0.12% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.93%.
The a manufacturer of motor vehicles and passenger cars's shares have seen an increase of 10.38% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 7.26% and the S&P 500's loss of 0.26%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is slated to reveal its earnings on August 6, 2024. It is anticipated that the company will report an EPS of -$1.14, marking a 5.56% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.04 billion, indicating a 7.34% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.80 per share and a revenue of $4.8 billion, representing changes of +22.13% and +8.27%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, there's been a 2.03% rise in the Zacks Consensus EPS estimate. Rivian Automotive presently features a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 175, placing it within the bottom 31% of over 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.
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) Stock Moves -0.12%: What You Should Know
The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $16.25, reflecting a -0.12% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.51%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, lost 0.93%.
The a manufacturer of motor vehicles and passenger cars's shares have seen an increase of 10.38% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 7.26% and the S&P 500's loss of 0.26%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is slated to reveal its earnings on August 6, 2024. It is anticipated that the company will report an EPS of -$1.14, marking a 5.56% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.04 billion, indicating a 7.34% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$3.80 per share and a revenue of $4.8 billion, representing changes of +22.13% and +8.27%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, there's been a 2.03% rise in the Zacks Consensus EPS estimate. Rivian Automotive presently features a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 175, placing it within the bottom 31% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.