The most recent trading session ended with NIO Inc. (NIO) standing at $7.40, reflecting a -0.94% shift from the previouse trading day’s closing. This change lagged the S&P 500’s 0.06% gain on the day. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.11%.
The company’s stock has dropped by 2.1% in the past month, falling short of the Auto-Tires-Trucks sector’s gain of 7.73% and the S&P 500’s gain of 8.22%.
The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. The company is slated to reveal its earnings on December 5, 2023. The company’s earnings per share (EPS) are projected to be -$0.43, reflecting a 19.44% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $2.63 billion, up 43.95% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.79 per share and a revenue of $8.46 billion, representing changes of -38.76% and +16.54%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for NIO Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. NIO Inc. presently features a Zacks Rank of #2 (Buy).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 24, finds itself in the top 10% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report