NIO Inc. (NIO) closed the most recent trading day at $7.27, moving +1.25% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.38%. At the same time, the Dow added 1.47%, and the tech-heavy Nasdaq lost 0.23%.
Prior to today’s trading, shares of the company had lost 3.62% over the past month. This has lagged the Auto-Tires-Trucks sector’s gain of 13.35% and the S&P 500’s gain of 10.72% in that time.
The upcoming earnings release of NIO Inc. will be of great interest to investors. The company’s earnings report is expected on December 5, 2023. The company is expected to report EPS of -$0.43, down 19.44% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.63 billion, up 43.95% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.79 per share and revenue of $8.46 billion, indicating changes of -38.76% and +16.54%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NIO Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, NIO Inc. boasts a Zacks Rank of #2 (Buy).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% 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