Lucid Group, Inc. (LCID) Outpaces Stock Market Gains: What You Should Know
Lucid Group, Inc. (LCID) closed at $9 in the latest trading session, marking a +1.47% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.1%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 6.59%.
Coming into today, shares of the company had gained 39.03% in the past month. In that same time, the Auto-Tires-Trucks sector gained 8.65%, while the S&P 500 gained 4.58%.
Investors will be hoping for strength from Lucid Group, Inc. as it approaches its next earnings release, which is expected to be February 22, 2023. The company is expected to report EPS of -$0.42, down 13.51% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $375 million, up 1320.99% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Lucid Group, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. Lucid Group, Inc. currently has 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 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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