In the latest trading session, NIO Inc. (NIO) closed at $4.96, marking a +1.43% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.33%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq lost 0.59%.
The company’s shares have seen an increase of 0.82% over the last month, surpassing the Auto-Tires-Trucks sector’s loss of 3.16% and the S&P 500’s loss of 0%.
Investors will be eagerly watching for the performance of NIO Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.07, showcasing a 85.11% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.77 billion, up 76.76% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$1.03 per share and a revenue of $12.59 billion, representing changes of +31.79% and +37.89%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NIO Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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. With its current Zacks Industry Rank of 88, this industry ranks in the top 36% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. 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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