NIO Inc. (NIO) closed at $45.02 in the latest trading session, marking a -0.29% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.54%.
Heading into today, shares of the company had gained 32.06% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 8.28% and the S&P 500's gain of 1.91% in that time.
Wall Street will be looking for positivity from NIO as it approaches its next earnings report date.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.65 per share and revenue of $5.19 billion, which would represent changes of +1.52% and +115.7%, respectively, from the prior year.
Any recent changes to analyst estimates for NIO should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 currently has a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow NIO in the coming trading sessions, be sure to utilize Zacks.com.
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