In the latest close session, Lucid Group (LCID) was down 4.38% at $5.02. This change lagged the S&P 500's 0.57% loss on the day. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw a decrease of 1.15%.
Shares of the an electric vehicle automaker witnessed a loss of 8.38% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 0.94%, and the S&P 500's gain of 2.14%.
The upcoming earnings release of Lucid Group will be of great interest to investors. On that day, Lucid Group is projected to report earnings of -$2.54 per share, which would represent year-over-year growth of 9.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $373.56 million, up 43.99% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$10.75 per share and revenue of $2.18 billion, indicating changes of +11.08% and +60.83%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Lucid Group. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Lucid Group is currently a Zacks Rank #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Lucid Group, Inc. (LCID): Free Stock Analysis Report
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