Lucid Group (LCID) closed the most recent trading day at $2.50, moving +0.4% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a drop of 0.33%, and the technology-dominated Nasdaq saw an increase of 0.76%.

Prior to today's trading, shares of the an electric vehicle automaker had lost 27.19% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 11.82% and the S&P 500's gain of 1.47% in that time.

The upcoming earnings release of Lucid Group will be of great interest to investors. The company's earnings report is expected on November 7, 2024. On that day, Lucid Group is projected to report earnings of -$0.32 per share, which would represent a year-over-year decline of 14.29%. Meanwhile, our latest consensus estimate is calling for revenue of $199.5 million, up 44.76% from the prior-year quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.22 per share and a revenue of $769.99 million, representing changes of +10.29% and +29.35%, respectively, from the prior year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lucid Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.93% increase. Lucid Group currently has a Zacks Rank of #2 (Buy).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 204, positioning it in the bottom 20% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.