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Rivian Automotive (RIVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Rivian Automotive (RIVN - Free Report) closed at $10.15 in the latest trading session, marking a -1.93% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.76%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 1.01%.
The the stock of a manufacturer of motor vehicles and passenger cars has fallen by 21.59% in the past month, lagging the Auto-Tires-Trucks sector's loss of 4.32% and the S&P 500's gain of 4.31%.
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, 2024. It is anticipated that the company will report an EPS of -$0.89, marking a 25.21% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1 billion, indicating a 25.18% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$4 per share and a revenue of $4.69 billion, demonstrating changes of +18.03% and +5.81%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 1.71% lower within the past month. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 212, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rivian Automotive (RIVN) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Rivian Automotive (RIVN - Free Report) closed at $10.15 in the latest trading session, marking a -1.93% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.76%. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 1.01%.
The the stock of a manufacturer of motor vehicles and passenger cars has fallen by 21.59% in the past month, lagging the Auto-Tires-Trucks sector's loss of 4.32% and the S&P 500's gain of 4.31%.
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, 2024. It is anticipated that the company will report an EPS of -$0.89, marking a 25.21% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1 billion, indicating a 25.18% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$4 per share and a revenue of $4.69 billion, demonstrating changes of +18.03% and +5.81%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 1.71% lower within the past month. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 212, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.