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Lucid Group (LCID) Dips More Than Broader Market: What You Should Know
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Lucid Group (LCID - Free Report) closed the latest trading day at $2.65, indicating a -0.38% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.07%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
Prior to today's trading, shares of the an electric vehicle automaker had lost 37.56% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 12.12% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Lucid Group in its upcoming earnings disclosure. The company's earnings report is set to go public on February 21, 2024. It is anticipated that the company will report an EPS of -$0.28, marking a 30% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $166.76 million, down 35.29% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Lucid Group. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, there's been a 1.9% rise in the Zacks Consensus EPS estimate. At present, Lucid Group boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 111, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Dips More Than Broader Market: What You Should Know
Lucid Group (LCID - Free Report) closed the latest trading day at $2.65, indicating a -0.38% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.07%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.
Prior to today's trading, shares of the an electric vehicle automaker had lost 37.56% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 12.12% and the S&P 500's gain of 3.05% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Lucid Group in its upcoming earnings disclosure. The company's earnings report is set to go public on February 21, 2024. It is anticipated that the company will report an EPS of -$0.28, marking a 30% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $166.76 million, down 35.29% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Lucid Group. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, there's been a 1.9% rise in the Zacks Consensus EPS estimate. At present, Lucid Group boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 111, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.