Rivian Automotive (RIVN) ended the recent trading session at $13.77, demonstrating a +2.84% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.03%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.13%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 20.86% over the past month, lagging the Auto-Tires-Trucks sector's loss of 7.75% and the S&P 500's gain of 0.6%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. On that day, Rivian Automotive is projected to report earnings of -$0.65 per share, which would represent year-over-year growth of 46.28%. Our most recent consensus estimate is calling for quarterly revenue of $1.29 billion, up 11.22% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.49 per share and revenue of $5.25 billion, indicating changes of +38.37% and +5.66%, respectively, compared to the previous 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, Rivian Automotive boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 178, this industry ranks in the bottom 28% of all industries, numbering over 250.
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.
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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Rivian Automotive, Inc. (RIVN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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