Prior to today’s trading, shares of the company had lost 21.35% over the past month. This has lagged the Auto-Tires-Trucks sector’s loss of 6.56% and the S&P 500’s gain of 2.64% in that time.
NIO will be looking to display strength as it nears its next earnings release.
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.
Investors might also notice recent changes to analyst estimates for NIO. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NIO is currently sporting 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 211, which puts it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NIO Inc. (NIO) : Free Stock Analysis Report
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