NIO Inc. (NIO) ended the recent trading session at $7.46, demonstrating a -4.97% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.08%.
The company's shares have seen an increase of 37.24% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 16.32% and the S&P 500's gain of 4.03%.
The investment community will be closely monitoring the performance of NIO Inc. in its forthcoming earnings report. On that day, NIO Inc. is projected to report earnings of -$0.24 per share, which would represent year-over-year growth of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $3.26 billion, up 22.46% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.99 per share and a revenue of $13.37 billion, demonstrating changes of +34.44% and +46.4%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 3.67% rise in the Zacks Consensus EPS estimate. NIO Inc. is currently sporting 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 191, which puts it in the bottom 23% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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