In the latest trading session on Wednesday, Lucid Group (NASDAQ: LCID), a prominent electric vehicle manufacturer, closed at $5.45, marking a modest decline of -0.91% compared to the previous day. This decrease was more moderate than the S&P 500’s daily loss of 0.94%. Meanwhile, the Dow experienced a 0.22% decline, and the Nasdaq index, which is heavily tech-oriented, saw a 1.53% drop.
During the month leading up to Wednesday, Lucid Group shares have experienced a 9.31% decline, underperforming the Auto-Tires-Trucks sector’s impressive gain of 13.98% and the S&P 500’s 1.85% increase over the same period.
Investor attention is now firmly fixed on Lucid Group’s upcoming earnings report. Analysts anticipate the company to announce earnings of -$0.31 per share, signaling a year-over-year growth rate of 22.5%. The most recent consensus estimate suggests quarterly revenue of $231.68 million, reflecting an 18.53% increase compared to the same period last year.
For the entire fiscal year, Zacks Consensus Estimates are projecting earnings of -$1.51 per share and revenue of $782.1 million for Lucid Group, indicating year-over-year changes of +3.82% and +28.6%, respectively.
Notably, recent adjustments in analyst estimates for Lucid Group have been observed, typically mirroring short-term business trends. These positive revisions may be construed as a sign of optimism regarding the company’s business prospects.
Lucid Group currently holds a #3 (Hold) rank on the Zacks Rank system. This proprietary model factors in these estimate changes and offers a practical rating system, ranging from #1 (Strong Buy) to #5 (Strong Sell). Stocks with a #1 rating have historically generated an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate for Lucid Group has remained stable.
The Automotive – Domestic industry, within which Lucid Group operates, falls under the Auto-Tires-Trucks sector. This industry segment holds an impressive Zacks Industry Rank of 93, positioning it within the top 37% among all 250+ industries.
