In the latest trading session, Luminar Technologies, Inc. (LAZR) closed at $2.95, marking a -2.32% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.61%. Meanwhile, the Dow experienced a rise of 0.49%, and the technology-dominated Nasdaq saw an increase of 0.95%.
Prior to today's trading, shares of the company had lost 12.72% lagged the Auto-Tires-Trucks sector's gain of 1.18% and the S&P 500's gain of 3.85%.
Market participants will be closely following the financial results of Luminar Technologies, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$1.19, reflecting a 55.93% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $16.72 million, showing a 1.64% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$4.29 per share and a revenue of $86.64 million, representing changes of +53.57% and +14.91%, respectively, from the prior year.
Any recent changes to analyst estimates for Luminar Technologies, Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Luminar Technologies, Inc. possesses a Zacks Rank of #2 (Buy).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 180, placing it within the bottom 28% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Luminar Technologies, Inc. (LAZR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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