NIO Inc. (NIO) closed the most recent trading day at $4.04, moving -1.46% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.09%. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq increased by 0.02%.
Prior to today's trading, shares of the company had gained 16.48% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 28.79% and outpaced the S&P 500's gain of 13.05% in that time.
The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.22, marking a 38.89% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.71 billion, up 24.51% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.13 per share and a revenue of $13.74 billion, signifying shifts of +25.17% and +50.41%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for NIO Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained stagnant. As of now, NIO Inc. holds a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 209, finds itself in the bottom 16% echelons 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.
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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