NIO Inc. (NIO) closed at $4.24 in the latest trading session, marking a -1.62% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.58%. On the other hand, the Dow registered a gain of 0.75%, and the technology-centric Nasdaq increased by 0.55%.
The company's shares have seen an increase of 13.12% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 5.01% and the S&P 500's loss of 0.84%.
The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. The company is expected to report EPS of -$0.22, up 38.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.71 billion, up 24.51% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.13 per share and a revenue of $13.74 billion, representing changes of +25.17% and +50.41%, respectively, from the prior year.
It is also important to note the recent changes to 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 company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.66% lower. Currently, NIO Inc. is carrying a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 208, positioning it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on 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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