NIO Inc. (NIO) Gains But Lags Market: What You Should Know
NIO Inc. (NIO) closed at $10.56 in the latest trading session, marking a +0.19% move from the prior day. This move lagged the S&P 500's daily gain of 0.39%.
Heading into today, shares of the company had gained 12.13% over the past month, lagging the Auto-Tires-Trucks sector's gain of 22.11% and outpacing the S&P 500's gain of 3.16% in that time.
Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.36, down 44% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.35 billion, down 11.83% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.37 per share and revenue of $8.36 billion, which would represent changes of -6.2% and +15.23%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NIO Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. The Zacks Consensus EPS estimate has moved 1.3% higher within the past month. NIO Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 28, which puts it in the top 12% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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NIO Inc. (NIO) : Free Stock Analysis Report
