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Rivian Automotive (RIVN) closed at $12.56 in the latest trading session, marking a +0.4% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.51% for the day. Meanwhile, the Dow experienced a drop of 0.75%, and the technology-dominated Nasdaq saw a decrease of 0.28%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 5.58% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 4.35% and the S&P 500's gain of 2.87% in that time.
Market participants will be closely following the financial results of Rivian Automotive in its upcoming release. The company plans to announce its earnings on February 20, 2025. The company is predicted to post an EPS of -$0.67, indicating a 50.74% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.33 billion, indicating a 0.98% increase compared to the same quarter of the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, there's been a 3.51% fall in the Zacks Consensus EPS estimate. Rivian Automotive currently has a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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