NIO Inc. (NIO) closed at $4.44 in the latest trading session, marking a -2.42% move from the prior day. This move lagged the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.53%, and the technology-centric Nasdaq decreased by 1.51%.
Shares of the company witnessed a loss of 4.81% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its loss of 1.25%, and the S&P 500's gain of 0.93%.
Market participants will be closely following the financial results of NIO Inc. in its upcoming release. The company is expected to report EPS of -$0.07, up 85.11% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $4.77 billion, indicating a 76.76% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.03 per share and a revenue of $12.59 billion, signifying shifts of +31.79% and 0%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NIO Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, NIO Inc. possesses 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 172, which puts it in the bottom 30% 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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