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Lucid Group (LCID) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest close session, Lucid Group (LCID - Free Report) was down 3.7% at $4.16. The stock trailed the S&P 500, which registered a daily loss of 0.76%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 1.13%.
Shares of the an electric vehicle automaker have depreciated by 17.87% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 0.22%, and the S&P 500's gain of 1.26%.
Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company's upcoming EPS is projected at -$2.76, signifying a 16.62% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $378.49 million, up 12.45% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$12.15 per share and revenue of $1.48 billion, which would represent changes of -0.5% and +9.25%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Lucid Group. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering 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. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Lucid Group (LCID) Suffers a Larger Drop Than the General Market: Key Insights
In the latest close session, Lucid Group (LCID - Free Report) was down 3.7% at $4.16. The stock trailed the S&P 500, which registered a daily loss of 0.76%. Elsewhere, the Dow lost 0.68%, while the tech-heavy Nasdaq lost 1.13%.
Shares of the an electric vehicle automaker have depreciated by 17.87% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 0.22%, and the S&P 500's gain of 1.26%.
Market participants will be closely following the financial results of Lucid Group in its upcoming release. The company's upcoming EPS is projected at -$2.76, signifying a 16.62% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $378.49 million, up 12.45% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$12.15 per share and revenue of $1.48 billion, which would represent changes of -0.5% and +9.25%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Lucid Group. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering 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. Currently, this industry holds a Zacks Industry Rank of 42, positioning it in the top 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.