In the latest close session, NIO Inc. (NIO) was up +2.03% at $7.04. The stock's change was more than the S&P 500's daily gain of 1.23%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 1.86%.
The stock of company has fallen by 1.99% in the past month, lagging the Auto-Tires-Trucks sector's gain of 0.41% and the S&P 500's gain of 2.45%.
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 -$0.24, showcasing a 33.33% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $3.26 billion, up 22.46% from the prior-year quarter.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$1.02 per share and revenue of $13.58 billion. These results would represent year-over-year changes of +32.45% and +48.72%, respectively.
Investors should also pay attention to any latest changes in 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 shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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 2.53% fall in the Zacks Consensus EPS estimate. 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 184, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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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