In the latest trading session, NIO Inc. (NIO) closed at $7.53, marking a +1.62% move from the previous day. This change outpaced the S&P 500’s 0.61% loss on the day. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, added 10.45%.
Coming into today, shares of the company had lost 0.54% in the past month. In that same time, the Auto-Tires-Trucks sector gained 9.23%, while the S&P 500 gained 1.05%.
Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date. This is expected to be June 9, 2023. The company is expected to report EPS of -$0.22, down 22.22% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.69 billion, up 8.22% from the prior-year quarter.
NIO’s full-year Zacks Consensus Estimates are calling for earnings of -$1.39 per share and revenue of $12.04 billion. These results would represent year-over-year changes of -7.75% and +65.98%, respectively.
Any recent changes to analyst estimates for NIO Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.39% lower. NIO Inc. is currently a Zacks Rank #3 (Hold).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 33, putting it in the top 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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NIO Inc. (NIO) : Free Stock Analysis Report