Lucid Group (LCID) Scheduled to Post Earnings on Monday

Lucid Group (NASDAQ:LCID) will be announcing its earnings results after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of ($0.24) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Lucid Group (NASDAQ:LCID) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.01). The firm had revenue of $157.20 million during the quarter, compared to the consensus estimate of $179.88 million. Lucid Group had a negative net margin of 475.15% and a negative return on equity of 57.00%. The company’s quarterly revenue was down 39.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. 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 LCID opened at $2.79 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.03 and a current ratio of 4.72. The firm has a market cap of $6.41 billion, a PE ratio of -1.99 and a beta of 1.04. The firm’s 50 day moving average price is $2.77 and its 200 day moving average price is $3.51. Lucid Group has a twelve month low of $2.29 and a twelve month high of $8.37.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LCID. Citigroup restated a “neutral” rating and set a $2.90 price target on shares of Lucid Group in a report on Monday, April 22nd. Cantor Fitzgerald cut Lucid Group from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $6.00 to $4.00 in a research report on Thursday, February 22nd. Bank of America lowered their price objective on Lucid Group from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, February 22nd. Stifel Nicolaus reduced their target price on Lucid Group from $5.00 to $4.00 and set a “hold” rating for the company in a report on Monday, February 26th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 target price on shares of Lucid Group in a research report on Monday, March 25th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.34.

About Lucid Group

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.