In the latest close session, NIO Inc. (NIO) was up +1.92% at $4.25. The stock outperformed the S&P 500, which registered a daily loss of 0.4%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq added 0.18%.
Shares of the company have appreciated by 18.47% over the course of the past month, outperforming the Auto-Tires-Trucks sector's gain of 0.64%, and the S&P 500's gain of 4.97%.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.3, signifying a 11.76% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.76 billion, showing a 14.78% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.04 per share and revenue of $13.66 billion, which would represent changes of +31.13% and +49.61%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NIO Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 2.35% rise in the Zacks Consensus EPS estimate. Currently, NIO Inc. is carrying a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NIO Inc. (NIO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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