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Here's Why Lucid Group (LCID) Fell More Than Broader Market
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Lucid Group (LCID - Free Report) ended the recent trading session at $10.57, demonstrating a -3.03% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.74%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.76%.
Shares of the an electric vehicle automaker have depreciated by 15.37% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 4.56%, and the S&P 500's gain of 0.79%.
The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. The company's earnings per share (EPS) are projected to be -$2.39, reflecting a 8.64% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $430.59 million, up 83.64% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$10.63 per share and a revenue of $1.25 billion, representing changes of +14.96% and +54.92%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lucid Group. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 13.25% lower. Lucid Group is currently a Zacks Rank #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Lucid Group (LCID) Fell More Than Broader Market
Lucid Group (LCID - Free Report) ended the recent trading session at $10.57, demonstrating a -3.03% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.74%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.76%.
Shares of the an electric vehicle automaker have depreciated by 15.37% over the course of the past month, underperforming the Auto-Tires-Trucks sector's gain of 4.56%, and the S&P 500's gain of 0.79%.
The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. The company's earnings per share (EPS) are projected to be -$2.39, reflecting a 8.64% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $430.59 million, up 83.64% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$10.63 per share and a revenue of $1.25 billion, representing changes of +14.96% and +54.92%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lucid Group. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 13.25% lower. Lucid Group is currently a Zacks Rank #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.