NIO Inc. (NIO) closed at $39.57 in the latest trading session, marking a +1.72% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.92%.
Coming into today, shares of the company had lost 10.32% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.25%, while the S&P 500 gained 6.83%.
Wall Street will be looking for positivity from NIO as it approaches its next earnings report date. This is expected to be April 29, 2021.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$0.37 per share and revenue of $5.21 billion. These results would represent year-over-year changes of +43.94% and +116.87%, respectively.
Investors might also notice recent changes to analyst estimates for NIO. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. NIO 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 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow NIO in the coming trading sessions, be sure to utilize Zacks.com.
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