Lucid Group (LCID) Stock Sinks As Market Gains: Here's Why

13.06.24 00:15 Uhr

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Lucid Group (LCID) ended the recent trading session at $2.65, demonstrating a -0.56% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, added 1.53%.Coming into today, shares of the an electric vehicle automaker had lost 14.74% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.37%, while the S&P 500 gained 3.11%.The investment community will be paying close attention to the earnings performance of Lucid Group in its upcoming release. It is anticipated that the company will report an EPS of -$0.26, marking a 35% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $164.28 million, indicating an 8.89% growth compared to the corresponding quarter of the prior year.For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.16 per share and revenue of $727.29 million, which would represent changes of +14.71% and +22.18%, respectively, from the prior year.Any recent changes to analyst estimates for Lucid Group should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Lucid Group is currently sporting a Zacks Rank of #3 (Hold).The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.Top 5 Dividend Stocks for Your RetirementZacks targets 5 well-established companies with solid fundamentals and a history of raising dividends. More importantly, they have the resources and will to likely pay them in the future.Click now for a Special Report packed with unconventional wisdom and insights you simply won’t get from your neighborhood financial planner.See our Top 5 now – the report is FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lucid Group, Inc. (LCID): Free Stock Analysis ReportTo read this article on click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks

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Quelle: Zacks

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