Rivian Automotive (RIVN) closed at $12.49 in the latest trading session, marking a -1.58% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.53% for the day. Elsewhere, the Dow gained 0.93%, while the tech-heavy Nasdaq added 0.22%.
Shares of the a manufacturer of motor vehicles and passenger cars have depreciated by 9.74% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 1.54% and the S&P 500's gain of 2.69%.
Investors will be eagerly watching for the performance of Rivian Automotive in its upcoming earnings disclosure. The company's earnings report is set to be unveiled 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 Zacks Consensus Estimate for revenue is projecting net sales of $1.32 billion, up 0.64% from the year-ago period.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.43% downward. As of now, Rivian Automotive holds a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
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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