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Lucid Group (LCID) Gains As Market Dips: What You Should Know
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Lucid Group (LCID - Free Report) ended the recent trading session at $3.47, demonstrating a +0.29% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 1.28%.
The the stock of an electric vehicle automaker has risen by 31.06% in the past month, leading the Auto-Tires-Trucks sector's gain of 5.37% and the S&P 500's gain of 0.1%.
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 August 5, 2024. On that day, Lucid Group is projected to report earnings of -$0.27 per share, which would represent year-over-year growth of 32.5%. Alongside, our most recent consensus estimate is anticipating revenue of $188.05 million, indicating a 24.64% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.17 per share and revenue of $757.57 million, which would represent changes of +13.97% and +27.26%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% lower. Right now, Lucid Group possesses a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 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) Gains As Market Dips: What You Should Know
Lucid Group (LCID - Free Report) ended the recent trading session at $3.47, demonstrating a +0.29% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.5%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, lost 1.28%.
The the stock of an electric vehicle automaker has risen by 31.06% in the past month, leading the Auto-Tires-Trucks sector's gain of 5.37% and the S&P 500's gain of 0.1%.
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 August 5, 2024. On that day, Lucid Group is projected to report earnings of -$0.27 per share, which would represent year-over-year growth of 32.5%. Alongside, our most recent consensus estimate is anticipating revenue of $188.05 million, indicating a 24.64% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.17 per share and revenue of $757.57 million, which would represent changes of +13.97% and +27.26%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lucid Group. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.43% lower. Right now, Lucid Group possesses a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 168, placing it within the bottom 34% of over 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.