NIO Inc. (NIO) closed the latest trading day at $4.90, indicating a +1.45% change from the previous session’s end. The stock exceeded the S&P 500, which registered a gain of 0.03% for the day. Elsewhere, the Dow saw a downswing of 0.56%, while the tech-heavy Nasdaq appreciated by 0.59%.
The company’s stock has climbed by 5% in the past month, exceeding the Auto-Tires-Trucks sector’s loss of 0.12% and the S&P 500’s gain of 4.19%.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. The company’s earnings report is set to be unveiled on June 6, 2024. The company is predicted to post an EPS of -$0.31, indicating a 26.19% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.48 billion, down 4.65% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.26 per share and revenue of $9.14 billion, indicating changes of +28% and +17.43%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for NIO Inc. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, NIO Inc. holds a Zacks Rank of #2 (Buy).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 229, this industry ranks in the bottom 10% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report