Earnings Previews: Coterra Energy, eBay, Lucid, Nvidia

Analysts expect Lucid to report 2022 fourth-quarter revenue of $273.59 million, which would be 40% higher sequentially and up from $26.39 million in the year-ago quarter. The consensus forecast calls for an adjusted loss of $0.40 per share, equal to the prior quarter’s loss and 10 cents worse than last year’s fourth-quarter loss. For the full 2022 fiscal year, the loss per share is forecast at $1.11, down from last year’s loss of $5.00 per share, on sales of $662.89 million, up nearly 2,350%.

The company is not expected to report a profit in 2022, 2023 or 2024. The enterprise value to sales multiple is expected to be 28.6 in 2022. Based on average estimated sales of $2.44 billion and $4.41 billion for 2023 and 2024, respectively, the multiple is 7.8 for 2023 and 4.3 for 2024. The stock’s 52-week range is $6.09 to $29.05. Lucid does not pay a dividend. Total shareholder return for the past year is negative 61.12%.


At the end of its third fiscal quarter in October, chipmaker Nvidia Corp. (NASDAQ: NVDA) had been having a rough year. Shares were down by more than 45% and there was little in the way of good news about the company’s prospects. Since reporting those results, the share price has improved by nearly 98%.

The upheaval caused by OpenAI’s release of ChatGPT has given Nvidia a shot in the arm as well because the number and speed of calculations required for a really functional AI chatbot play right into Nvidia’s chipmaking strength. That impact may be a while in coming, but in the meantime, there is the company’s newly designed chip for the Chinese data center market that could provide some near-term boost to revenue.

In any event, analysts remain bullish on the stock, with 31 of 44 brokerages having a Buy or Strong Buy rating. Another 11 rate it at Hold. At a share price of around $214.00, the upside potential based on a median price target of $220.00 is about 2.8%. At the high target of $320.00, the upside potential is more than 50%.

For Nvidia’s fiscal fourth quarter, which ended in January, analysts expect revenue of $6.02 billion, up 1.5% sequentially but down 21.2% year over year. Adjusted EPS are forecast to rise by about 38.5% sequentially to $0.80, a drop of more than 39% year over year. For the full 2023 fiscal year, analysts estimate EPS of $3.27, down 26.4%, and revenue of $26.94 billion, up just 0.1%.

Nvidia stock trades at 65.5 times expected 2023 EPS, 49.5 times estimated 2024 earnings of $4.32 and 37.6 times estimated 2025 EPS of $5.69 per share. The stock’s 52-week range is $108.13 to $289.46. Nvidia pays an annual dividend of $0.16 (yield of 0.07%). Total shareholder return for the past 12 months was negative 12.65%.

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