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Lucid Group (LCID) Stock Sinks As Market Gains: Here's Why
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In the latest close session, Lucid Group (LCID - Free Report) was down 6.33% at $9.33. The stock trailed the S&P 500, which registered a daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.54%.
Shares of the an electric vehicle automaker have appreciated by 1.94% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 7.14%, and the S&P 500's loss of 3.31%.
Investors will be eagerly watching for the performance of Lucid Group in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$2.53, showcasing a 5.42% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $471.83 million, showing a 100.74% escalation compared to the year-ago quarter.
LCID's full-year Zacks Consensus Estimates are calling for earnings of -$9.79 per share and revenue of $2.26 billion. These results would represent year-over-year changes of +19.02% and +67.28%, respectively.
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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Lucid Group boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 21% 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.
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) Stock Sinks As Market Gains: Here's Why
In the latest close session, Lucid Group (LCID - Free Report) was down 6.33% at $9.33. The stock trailed the S&P 500, which registered a daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.36%, and the technology-dominated Nasdaq saw an increase of 0.54%.
Shares of the an electric vehicle automaker have appreciated by 1.94% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 7.14%, and the S&P 500's loss of 3.31%.
Investors will be eagerly watching for the performance of Lucid Group in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$2.53, showcasing a 5.42% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $471.83 million, showing a 100.74% escalation compared to the year-ago quarter.
LCID's full-year Zacks Consensus Estimates are calling for earnings of -$9.79 per share and revenue of $2.26 billion. These results would represent year-over-year changes of +19.02% and +67.28%, respectively.
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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Lucid Group boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 21% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.