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.
Lucid Group (LCID) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
The latest trading session saw Lucid Group (LCID - Free Report) ending at $4.04, denoting a -0.74% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.48%. Elsewhere, the Dow lost 1.12%, while the tech-heavy Nasdaq added 0.38%.
Shares of the an electric vehicle automaker have depreciated by 26.4% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 9.05% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. The company is scheduled to release 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. Meanwhile, the latest consensus estimate predicts the revenue to be $153.44 million, indicating a 21.5% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.46 per share and a revenue of $703.86 million, representing changes of +7.01% and +15.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.09% increase. Lucid Group is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Lucid Group (LCID) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw Lucid Group (LCID - Free Report) ending at $4.04, denoting a -0.74% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.48%. Elsewhere, the Dow lost 1.12%, while the tech-heavy Nasdaq added 0.38%.
Shares of the an electric vehicle automaker have depreciated by 26.4% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 9.05% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. The company is scheduled to release 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. Meanwhile, the latest consensus estimate predicts the revenue to be $153.44 million, indicating a 21.5% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.46 per share and a revenue of $703.86 million, representing changes of +7.01% and +15.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.09% increase. Lucid Group is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.