In the latest trading session, NIO Inc. (NIO) closed at $6.04, marking a -0.49% move from the previous day. This move lagged the S&P 500’s daily gain of 0.53%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq added 0.19%.
The company’s stock has dropped by 33.3% in the past month, falling short of the Auto-Tires-Trucks sector’s loss of 7.52% and the S&P 500’s gain of 2.48%.
Market participants will be closely following the financial results of NIO Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.51, marking stability compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.29 billion, down 1.86% from the prior-year quarter.
It’s also important for investors to be aware of any recent modifications to analyst estimates for NIO Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 18.58% upward. At present, NIO Inc. boasts a Zacks Rank of #2 (Buy).
The Automotive – Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIO Inc. (NIO) : Free Stock Analysis Report
Read More:NIO Inc. (NIO) Stock Declines While Market Improves: Some Information for Investors
2024-01-25 22:45:19
