We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Lucid Group (LCID) Dipped More Than Broader Market Today
Read MoreHide Full Article
Lucid Group (LCID - Free Report) ended the recent trading session at $4.28, demonstrating a -1.38% swing from the preceding day's closing price. This change lagged the S&P 500's 1.26% loss on the day. At the same time, the Dow lost 0.86%, and the tech-heavy Nasdaq lost 1.54%.
The an electric vehicle automaker's stock has dropped by 16.05% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 10.82% and the S&P 500's loss of 3.67%.
The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be -$0.27, reflecting a 32.5% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $153.44 million, showing a 21.5% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.46 per share and a revenue of $703.86 million, indicating changes of +7.01% and +15.73%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Lucid Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 3.09% increase. Right now, Lucid Group possesses a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow LCID in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Lucid Group (LCID) Dipped More Than Broader Market Today
Lucid Group (LCID - Free Report) ended the recent trading session at $4.28, demonstrating a -1.38% swing from the preceding day's closing price. This change lagged the S&P 500's 1.26% loss on the day. At the same time, the Dow lost 0.86%, and the tech-heavy Nasdaq lost 1.54%.
The an electric vehicle automaker's stock has dropped by 16.05% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 10.82% and the S&P 500's loss of 3.67%.
The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. The company is slated to reveal its earnings on November 7, 2023. The company's earnings per share (EPS) are projected to be -$0.27, reflecting a 32.5% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $153.44 million, showing a 21.5% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$1.46 per share and a revenue of $703.86 million, indicating changes of +7.01% and +15.73%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Lucid Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 3.09% increase. Right now, Lucid Group possesses a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow LCID in the coming trading sessions, be sure to utilize Zacks.com.