In the latest close session, NIO Inc. (NIO) was down 4.62% at $6.09. The stock's performance was behind the S&P 500's daily gain of 0.62%. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.83%.
The company's shares have seen an increase of 16.64% over the last month, surpassing the Auto-Tires-Trucks sector's loss of 7.64% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of NIO Inc. in its upcoming earnings disclosure. In that report, analysts expect NIO Inc. to post earnings of -$0.24 per share. This would mark year-over-year growth of 46.67%. Alongside, our most recent consensus estimate is anticipating revenue of $3.55 billion, indicating a 114.04% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.28 per share and revenue of $18.54 billion, which would represent changes of +71.43% and +50.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NIO Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the past month, there's been a 34.72% rise in the Zacks Consensus EPS estimate. NIO Inc. currently has 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 144, putting it in the bottom 41% of all 250+ industries.
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.
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
This article originally published on Zacks Investment Research (zacks.com).