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Lucid Group (LCID) Registers a Bigger Fall Than the Market: Important Facts to Note
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Lucid Group (LCID - Free Report) closed at $4.03 in the latest trading session, marking a -2.18% move from the prior day. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
The an electric vehicle automaker's stock has dropped by 28.6% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 0.68% and the S&P 500's loss of 2.43%.
Investors will be eagerly watching for the performance of Lucid Group in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$2.76, signifying a 16.62% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $378.49 million, indicating a 12.45% increase compared to the same quarter of the previous year.
LCID's full-year Zacks Consensus Estimates are calling for earnings of -$12.15 per share and revenue of $1.48 billion. These results would represent year-over-year changes of -0.5% and +9.25%, respectively.
Any recent changes to analyst estimates for Lucid Group should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Lucid Group holds a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
To follow LCID in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Lucid Group (LCID) Registers a Bigger Fall Than the Market: Important Facts to Note
Lucid Group (LCID - Free Report) closed at $4.03 in the latest trading session, marking a -2.18% move from the prior day. This change lagged the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 1.21%, while the tech-heavy Nasdaq lost 0.01%.
The an electric vehicle automaker's stock has dropped by 28.6% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 0.68% and the S&P 500's loss of 2.43%.
Investors will be eagerly watching for the performance of Lucid Group in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$2.76, signifying a 16.62% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $378.49 million, indicating a 12.45% increase compared to the same quarter of the previous year.
LCID's full-year Zacks Consensus Estimates are calling for earnings of -$12.15 per share and revenue of $1.48 billion. These results would represent year-over-year changes of -0.5% and +9.25%, respectively.
Any recent changes to analyst estimates for Lucid Group should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Lucid Group holds a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
To follow LCID in the coming trading sessions, be sure to utilize Zacks.com.