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Lucid Group, Inc. (LCID) Stock Sinks As Market Gains: What You Should Know
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Lucid Group, Inc. (LCID - Free Report) closed the most recent trading day at $7.03, moving -0.57% from the previous trading session. This change lagged the S&P 500's 0.09% gain on the day. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Heading into today, shares of the company had lost 13.68% over the past month, lagging the Auto-Tires-Trucks sector's gain of 5.96% and the S&P 500's gain of 4.59% in that time.
Lucid Group, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 8, 2023. In that report, analysts expect Lucid Group, Inc. to post earnings of -$0.38 per share. This would mark a year-over-year decline of 660%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.4 million, up 174.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.41 per share and revenue of $1.15 billion. These totals would mark changes of +10.19% and +89.06%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Lucid Group, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% lower. Lucid Group, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Lucid Group, Inc. (LCID) Stock Sinks As Market Gains: What You Should Know
Lucid Group, Inc. (LCID - Free Report) closed the most recent trading day at $7.03, moving -0.57% from the previous trading session. This change lagged the S&P 500's 0.09% gain on the day. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Heading into today, shares of the company had lost 13.68% over the past month, lagging the Auto-Tires-Trucks sector's gain of 5.96% and the S&P 500's gain of 4.59% in that time.
Lucid Group, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be May 8, 2023. In that report, analysts expect Lucid Group, Inc. to post earnings of -$0.38 per share. This would mark a year-over-year decline of 660%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $158.4 million, up 174.62% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.41 per share and revenue of $1.15 billion. These totals would mark changes of +10.19% and +89.06%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Lucid Group, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% lower. Lucid Group, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.