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Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know September 19, 2024
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The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $13.15, reflecting a +1.94% shift from the previouse trading day's closing. This change outpaced the S&P 500's 1.7% gain on the day. Elsewhere, the Dow saw an upswing of 1.26%, while the tech-heavy Nasdaq appreciated by 2.51%.
Shares of the a manufacturer of motor vehicles and passenger cars have depreciated by 1.3% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 2.47% and the S&P 500's gain of 1.27%.
Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.90, signifying a 24.37% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.1 billion, indicating a 18.09% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$4 per share and revenue of $4.77 billion, which would represent changes of +18.03% and +7.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Rivian Automotive is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $13.15, reflecting a +1.94% shift from the previouse trading day's closing. This change outpaced the S&P 500's 1.7% gain on the day. Elsewhere, the Dow saw an upswing of 1.26%, while the tech-heavy Nasdaq appreciated by 2.51%.
Shares of the a manufacturer of motor vehicles and passenger cars have depreciated by 1.3% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 2.47% and the S&P 500's gain of 1.27%.
Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.90, signifying a 24.37% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.1 billion, indicating a 18.09% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$4 per share and revenue of $4.77 billion, which would represent changes of +18.03% and +7.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Rivian Automotive is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 165, finds itself in the bottom 35% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.