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Luminar Technologies, Inc. (LAZR) Exceeds Market Returns: Some Facts to Consider
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The most recent trading session ended with Luminar Technologies, Inc. (LAZR - Free Report) standing at $1.69, reflecting a +1.2% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
Prior to today's trading, shares of the company had gained 2.45% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 5.19% and outpaced the S&P 500's loss of 1.16% in that time.
Investors will be eagerly watching for the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. On that day, Luminar Technologies, Inc. is projected to report earnings of -$0.20 per share, which would represent year-over-year growth of 4.76%. Meanwhile, the latest consensus estimate predicts the revenue to be $19.12 million, indicating a 18.02% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.65 per share and a revenue of $114.48 million, indicating changes of +25.29% and +64.06%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Luminar Technologies, Inc. Such recent modifications usually signify the changing landscape of 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 219, this industry ranks in the bottom 14% of all industries, numbering over 250.
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.
To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com.
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Luminar Technologies, Inc. (LAZR) Exceeds Market Returns: Some Facts to Consider
The most recent trading session ended with Luminar Technologies, Inc. (LAZR - Free Report) standing at $1.69, reflecting a +1.2% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
Prior to today's trading, shares of the company had gained 2.45% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 5.19% and outpaced the S&P 500's loss of 1.16% in that time.
Investors will be eagerly watching for the performance of Luminar Technologies, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2024. On that day, Luminar Technologies, Inc. is projected to report earnings of -$0.20 per share, which would represent year-over-year growth of 4.76%. Meanwhile, the latest consensus estimate predicts the revenue to be $19.12 million, indicating a 18.02% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.65 per share and a revenue of $114.48 million, indicating changes of +25.29% and +64.06%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Luminar Technologies, Inc. Such recent modifications usually signify the changing landscape of 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant. Luminar Technologies, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 219, this industry ranks in the bottom 14% of all industries, numbering over 250.
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.
To follow LAZR in the coming trading sessions, be sure to utilize Zacks.com.