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Lucid Group (LCID) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Lucid Group (LCID - Free Report) closed the latest trading day at $3.50, indicating a -1.96% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.71%. Elsewhere, the Dow lost 0.93%, while the tech-heavy Nasdaq lost 0.81%.
Prior to today's trading, shares of the an electric vehicle automaker had gained 40.55% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 18.22% and the S&P 500's gain of 1.08% in that time.
Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company plans to announce its earnings on August 5, 2024. The company is forecasted to report an EPS of -$0.26, showcasing a 35% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $188.05 million, showing a 24.64% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.16 per share and revenue of $757.57 million, which would represent changes of +14.71% and +27.26%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.22% decrease. Lucid Group is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Lucid Group (LCID) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Lucid Group (LCID - Free Report) closed the latest trading day at $3.50, indicating a -1.96% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.71%. Elsewhere, the Dow lost 0.93%, while the tech-heavy Nasdaq lost 0.81%.
Prior to today's trading, shares of the an electric vehicle automaker had gained 40.55% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 18.22% and the S&P 500's gain of 1.08% in that time.
Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company plans to announce its earnings on August 5, 2024. The company is forecasted to report an EPS of -$0.26, showcasing a 35% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $188.05 million, showing a 24.64% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.16 per share and revenue of $757.57 million, which would represent changes of +14.71% and +27.26%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.22% decrease. Lucid Group is holding a Zacks Rank of #4 (Sell) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.