Lemonade (LMND) Declines More Than Market: Some Information for Investors
Lemonade (LMND) closed at $12.31 in the latest trading session, marking a -1.68% move from the prior day. This move lagged the S&P 500's daily loss of 0.63%. At the same time, the Dow lost 0.51%, and the tech-heavy Nasdaq lost 0.63%.
Shares of the company witnessed a loss of 2.64% over the previous month, trailing the performance of the Finance sector with its loss of 2.46% and the S&P 500's loss of 2.35%.
Investors will be eagerly watching for the performance of Lemonade in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2023. The company's earnings per share (EPS) are projected to be -$0.93, reflecting a 32.12% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $104.16 million, up 40.76% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.63 per share and a revenue of $410.04 million, indicating changes of +20.92% and +59.74%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Lemonade. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Lemonade presently features a Zacks Rank of #2 (Buy).
The Insurance - Multi line industry is part of the Finance sector. With its current Zacks Industry Rank of 95, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Lemonade, Inc. (LMND) : Free Stock Analysis Report
