Lucid Group eyes earnings growth despite recent stock slide

  • Stock Market News
Lucid Group eyes earnings growth despite recent stock slide

In the most recent trading session on Wednesday, Lucid Group (NASDAQ: LCID ), an electric vehicle automaker, closed at $5.45, marking a -0.91% move from the previous day. This move was narrower than the S&P 500 's daily loss of 0.94%. Meanwhile, the Dow lost 0.22%, and the tech-heavy Nasdaq index lost 1.53%.

Over the past month leading up to Wednesday, Lucid Group shares had shed 9.31%, underperforming the Auto-Tires-Trucks sector's gain of 13.98% and the S&P 500's gain of 1.85% during the same period.

Investors are now looking forward to Lucid Group's upcoming earnings release. The company is projected to report earnings of -$0.31 per share, representing year-over-year growth of 22.5%. The most recent consensus estimate is calling for quarterly revenue of $231.68 million, an increase of 18.53% from the same period last year.

For the full 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.

Recent revisions in analyst estimates for Lucid Group have been observed, which typically reflect near-term business trends. These positive estimate revisions could be seen as a sign of optimism about the company's business outlook.

The Zacks Rank system currently holds Lucid Group at a #3 (Hold) rank. This proprietary model takes these estimate changes into account and provides an actionable rating system. The system ranges from #1 (Strong Buy) to #5 (Strong Sell), with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate for Lucid Group has remained stagnant within the past month.

The Automotive - Domestic industry, which Lucid Group is part of, falls under the Auto-Tires-Trucks sector. This group holds a Zacks Industry Rank of 93, placing it in the top 37% of all 250+ industries.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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