Lucid Group (LCID) closed at $4.70 in the latest trading session, marking a -8.74% move from the prior day. The stock's change was less than the S&P 500's daily loss of 1.62%. On the other hand, the Dow registered a loss of 1.87%, and the technology-centric Nasdaq decreased by 1.98%.
The stock of an electric vehicle automaker has fallen by 14.31% in the past month, lagging the Auto-Tires-Trucks sector's loss of 4.7% and the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. In that report, analysts expect Lucid Group to post earnings of -$2.54 per share. This would mark year-over-year growth of 9.29%. Meanwhile, our latest consensus estimate is calling for revenue of $373.56 million, up 43.99% from the prior-year quarter.
LCID's full-year Zacks Consensus Estimates are calling for earnings of -$10.75 per share and revenue of $2.18 billion. These results would represent year-over-year changes of +11.08% and +60.83%, respectively.
Any recent changes to analyst estimates for Lucid Group should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Lucid Group is currently sporting a Zacks Rank of #4 (Sell).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 182, putting it in the bottom 26% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Lucid Group, Inc. (LCID): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).