NIO Inc. (NIO) closed at $4.59 in the latest trading session, marking a -1.08% move from the prior day. This move lagged the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.03%, while the tech-heavy Nasdaq appreciated by 0.17%.
Prior to today's trading, shares of the company had lost 15.64% lagged the Auto-Tires-Trucks sector's loss of 5.52% and the S&P 500's gain of 0.78%.
The investment community will be closely monitoring the performance of NIO Inc. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.07, signifying a 85.11% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $4.77 billion, up 76.76% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.03 per share and revenue of $12.59 billion, which would represent changes of +31.79% and 0%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NIO Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 remained steady. At present, NIO Inc. boasts a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 32% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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