NIO Inc. (NIO) ended the recent trading session at $7.42, demonstrating a +2.34% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.17% for the day. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.46%.
The company's shares have seen a decrease of 5.84% over the last month, not keeping up with the Auto-Tires-Trucks sector's gain of 1.75% and the S&P 500's gain of 2.38%.
Market participants will be closely following the financial results of NIO Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 33.33% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.26 billion, indicating a 22.46% increase compared to the same quarter of the previous year.
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.
It's also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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, the Zacks Consensus EPS estimate has moved 2.53% lower. At present, NIO Inc. boasts 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 197, this industry ranks in the bottom 21% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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