Rivian Automotive (RIVN) is expected to beat earnings estimates with favorable revisions, according to recent analyst reports. The company is set to release its earnings soon, and analysts’ revisions suggest that the stock is poised for positive trends. This is welcome news for investors, who are always searching for stocks that beat earnings expectations.
Recent Estimate Revisions Favorable for RIVN
Recent earnings estimate revisions for RIVN have been positive, indicating that the stock has a good chance of beating earnings expectations. Analysts raising estimates before earnings with the most up-to-date information possible is a strong indicator of favorable trends for the company. The Most Accurate Estimate for the current quarter is currently at a loss of $1.49 per share for RIVN, compared to a broader Zacks Consensus Estimate of a loss of $1.51 per share. This suggests that analysts have very recently bumped up their estimates for RIVN, giving the stock a Zacks Earnings ESP of +0.84% heading into earnings season.
Zacks Earnings ESP as a Powerful Tool
The Zacks Earnings ESP has proven to be a powerful tool in predicting positive surprises and outperforming the market. A positive reading for the Zacks Earnings ESP, combined with a Zacks Rank #3 (Hold) or better, has resulted in a positive surprise nearly 70% of the time and an average annual return of over 28%. Given that RIVN has a Zacks Rank #3 and a positive ESP, investors may want to consider this stock ahead of earnings.
Conclusion: RIVN May Beat Earnings Estimates
Recent estimate revisions for RIVN suggest that the company is poised for positive trends and may beat earnings estimates. This is welcome news for investors who are always searching for stocks that exceed expectations. The Zacks Earnings ESP has proven to be a powerful tool in predicting positive surprises and outperforming the market. Given RIVN’s positive ESP and Zacks Rank #3, investors may want to consider this stock ahead of earnings.