In the latest close session, NIO Inc. (NIO) was down 1.17% at $6.75. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, added 0.52%.
Heading into today, shares of the company had lost 7.33% over the past month, lagging the Auto-Tires-Trucks sector's gain of 0.65% and the S&P 500's gain of 0.71%.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.26 billion, up 22.46% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.02 per share and revenue of $13.58 billion, which would represent changes of +32.45% and +48.72%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for NIO Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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, there's been a 0.5% fall in the Zacks Consensus EPS estimate. As of now, NIO Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 205, this industry ranks in the bottom 18% of all industries, numbering over 250.
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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