Luminar Technologies, Inc. (LAZR) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Company Performance - Luminar Technologies, Inc. closed at $3.27, reflecting a -5.49% change from the previous session, which is less than the S&P 500's daily loss of 0.27% [1] - The company's shares have decreased by 23.62% over the past month, underperforming the Auto-Tires-Trucks sector, which gained 5.86%, and the S&P 500, which gained 6.9% [1] Earnings Projections - For the upcoming earnings disclosure, Luminar is projected to report earnings of -$1.19 per share, indicating a year-over-year growth of 55.93% [2] - The consensus estimate for revenue is $16.72 million, representing a 1.64% increase from the prior-year quarter [2] Full Year Estimates - For the full year, Zacks Consensus Estimates project earnings of -$4.29 per share and revenue of $86.64 million, reflecting changes of +53.57% and +14.91% respectively from the prior year [3] - Recent revisions in analyst estimates are important as they often indicate near-term business trends, with positive revisions suggesting optimism about the business outlook [3] Zacks Rank and Industry Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with stocks rated 1 producing an average annual return of +25% since 1988 [5] - Luminar Technologies currently holds a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate having increased by 21.36% in the past month [5] Industry Context - The Automotive - Original Equipment industry, part of the Auto-Tires-Trucks sector, has a Zacks Industry Rank of 131, placing it in the bottom 47% of over 250 industries [6] - Research indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [6]