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NIO Inc. (NIO) Gains As Market Dips: What You Should Know
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NIO Inc. (NIO - Free Report) closed the most recent trading day at $11.50, moving +0.88% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the company had gained 7.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 12.2%, while the S&P 500 lost 2.13%.
Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date. This is expected to be August 29, 2023. In that report, analysts expect NIO Inc. to post earnings of -$0.36 per share. This would mark a year-over-year decline of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, down 11.83% from the prior-year quarter.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$1.43 per share and revenue of $7.79 billion. These results would represent year-over-year changes of -10.85% and +7.3%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.56% lower. NIO Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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NIO Inc. (NIO) Gains As Market Dips: What You Should Know
NIO Inc. (NIO - Free Report) closed the most recent trading day at $11.50, moving +0.88% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.17%.
Coming into today, shares of the company had gained 7.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 12.2%, while the S&P 500 lost 2.13%.
Wall Street will be looking for positivity from NIO Inc. as it approaches its next earnings report date. This is expected to be August 29, 2023. In that report, analysts expect NIO Inc. to post earnings of -$0.36 per share. This would mark a year-over-year decline of 44%. Meanwhile, our latest consensus estimate is calling for revenue of $1.35 billion, down 11.83% from the prior-year quarter.
NIO's full-year Zacks Consensus Estimates are calling for earnings of -$1.43 per share and revenue of $7.79 billion. These results would represent year-over-year changes of -10.85% and +7.3%, respectively.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.56% lower. NIO Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.