NIO Inc. (NIO) closed at $4.65 in the latest trading session, marking a -2.31% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.17% for the day. Meanwhile, the Dow experienced a rise of 0.49%, and the technology-dominated Nasdaq saw a decrease of 0.83%.
Prior to today's trading, shares of the company had lost 2.46% was narrower than the Auto-Tires-Trucks sector's loss of 8.67% and lagged the S&P 500's gain of 3.52%.
Analysts and investors alike will be keeping a close eye on the performance of NIO Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.07, reflecting a 78.13% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.78 billion, indicating a 80.16% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.1 per share and revenue of $19.24 billion. These totals would mark changes of +89.8% and +56.03%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 20.51% higher. NIO Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow NIO in the coming trading sessions, be sure to utilize Zacks.com.
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NIO Inc. (NIO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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