Lucid Group (LCID) ended the recent trading session at $2.15, demonstrating a +2.38% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.94%. Meanwhile, the Dow gained 0.75%, and the Nasdaq, a tech-heavy index, added 1.52%.
The an electric vehicle automaker's stock has dropped by 26.06% in the past month, falling short of the Auto-Tires-Trucks sector's loss of 3.9% and the S&P 500's gain of 1.67%.
The upcoming earnings release of Lucid Group will be of great interest to investors. The company is forecasted to report an EPS of -$0.26, showcasing a 10.34% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $292.12 million, showing a 45.64% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.91 per share and revenue of $1.35 billion, which would represent changes of +27.2% and +67.3%, respectively, from the prior year.
Any recent changes to analyst estimates for Lucid Group should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Lucid Group presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 216, placing it within the bottom 13% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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, Inc. (LCID): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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