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Home News Lucid Group Focuses on Earnings Growth Amid Recent Stock Decline

Lucid Group Focuses on Earnings Growth Amid Recent Stock Decline

by sun

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.

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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.

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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.

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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.

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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.

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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.

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