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The most recent trading session ended with NIO Inc. (NIO) standing at $5.23, reflecting a +1.75% shift from the previouse trading day’s closing. The stock’s performance was ahead of the S&P 500’s daily loss of 0.05%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.18%.
Coming into today, shares of the company had lost 3.38% in the past month. In that same time, the Auto-Tires-Trucks sector lost 8.62%, while the S&P 500 gained 2.76%.
The investment community will be closely monitoring the performance of NIO Inc. in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.32, showcasing a 13.51% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $2.7 billion, indicating a 3.41% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.37 per share and a revenue of $9.84 billion, demonstrating changes of +21.71% and +26.32%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for NIO Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NIO Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.