Lucid Group (LCID) Set to Announce Earnings on Monday

Lucid Group (NASDAQ:LCID) will issue its quarterly earnings data after the market closes on Monday, May 6th. Analysts expect Lucid Group to post earnings of ($0.24) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Lucid Group (NASDAQ:LCID) last issued its quarterly earnings results on Wednesday, February 21st. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.01). Lucid Group had a negative return on equity of 57.00% and a negative net margin of 475.15%. The company had revenue of $157.20 million during the quarter, compared to the consensus estimate of $179.88 million. During the same quarter last year, the firm posted ($0.40) EPS. The firm’s quarterly revenue was down 39.0% on a year-over-year basis. On average, analysts expect Lucid Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Lucid Group Price Performance

Shares of NASDAQ LCID opened at $2.79 on Friday. The business has a 50 day simple moving average of $2.78 and a 200-day simple moving average of $3.53. Lucid Group has a twelve month low of $2.29 and a twelve month high of $8.37. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -1.99 and a beta of 1.04. The company has a current ratio of 4.72, a quick ratio of 4.03 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

LCID has been the subject of a number of analyst reports. Bank of America reduced their price target on Lucid Group from $7.00 to $4.50 and set a “neutral” rating for the company in a research report on Thursday, February 22nd. Stifel Nicolaus decreased their target price on shares of Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, February 26th. Robert W. Baird dropped their price target on shares of Lucid Group from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Thursday, February 22nd. Citigroup reaffirmed a “neutral” rating and issued a $2.90 price target on shares of Lucid Group in a research note on Monday, April 22nd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $3.00 price objective on shares of Lucid Group in a research note on Monday, March 25th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.34.

Lucid Group Company Profile

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.