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In the latest market close, Rivian Automotive (RIVN) reached $12.45, with a +0.32% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.55%. Meanwhile, the Dow experienced a rise of 1.01%, and the technology-dominated Nasdaq saw a decrease of 0.14%.
The the stock of a manufacturer of motor vehicles and passenger cars has risen by 4.81% in the past month, leading the Auto-Tires-Trucks sector's loss of 8.05% and the S&P 500's loss of 6.22%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. The company is predicted to post an EPS of -$0.80, indicating a 32.77% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $998.66 million, reflecting a 17.05% fall from the equivalent quarter last year.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$2.87 per share and revenue of $5.46 billion. These results would represent year-over-year changes of +28.96% and +9.8%, respectively.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.9% upward. Rivian Automotive is currently a Zacks Rank #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 198, finds itself in the bottom 22% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.