Lucid Group (LCID) Stock Sinks As Market Gains: What You Should Know

17.04.24 00:15 Uhr

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2,59 EUR -0,11 EUR -4,11%


18.546,2 PKT -11,7 PKT -0,06%

The latest trading session saw Lucid Group (LCID) ending at $2.40, denoting a -1.23% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 0.12%.Coming into today, shares of the an electric vehicle automaker had lost 11.64% in the past month. In that same time, the Auto-Tires-Trucks sector lost 1.54%, while the S&P 500 lost 0.9%.The investment community will be closely monitoring the performance of Lucid Group in its forthcoming earnings report. The company is scheduled to release its earnings on May 6, 2024. In that report, analysts expect Lucid Group to post earnings of -$0.25 per share. This would mark year-over-year growth of 41.86%. Meanwhile, the latest consensus estimate predicts the revenue to be $173.09 million, indicating a 15.83% increase compared to the same quarter of the previous year.LCID's full-year Zacks Consensus Estimates are calling for earnings of -$1.06 per share and revenue of $751.26 million. These results would represent year-over-year changes of +22.06% and +26.2%, respectively.Investors should also take note of any recent adjustments to analyst estimates for Lucid Group. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Lucid Group holds 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 156, placing it within the bottom 39% 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.Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions.Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.The only question is “Will you get into the right stocks early when their growth potential is greatest?”Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>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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