In the latest market close, NIO Inc. (NIO) reached $5.06, with a -0.59% movement compared to the previous day. This move lagged the S&P 500’s daily gain of 0.1%. At the same time, the Dow added 0.69%, and the tech-heavy Nasdaq gained 0.06%.
Shares of the company witnessed a loss of 18.43% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 16.02% and the S&P 500’s gain of 4.37%.
Analysts and investors alike will be keeping a close eye on the performance of NIO Inc. in its upcoming earnings disclosure. The company’s earnings report is set to go public on November 20, 2024. In that report, analysts expect NIO Inc. to post earnings of -$0.32 per share. This would mark year-over-year growth of 13.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.7 billion, up 3.41% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.37 per share and a revenue of $9.84 billion, representing changes of +21.71% and +26.32%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for NIO Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. NIO Inc. is currently sporting 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 177, this industry ranks in the bottom 30% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.