In the latest trading session, NIO Inc. (NIO) closed at $3.23, marking a +1.25% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.07%. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.22%.
Prior to today's trading, shares of the company had gained 13.12% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 7.43% and the S&P 500's gain of 4.58% in that time.
NIO will be looking to display strength as it nears its next earnings release, which is expected to be September 24, 2019.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.35 per share and revenue of $1.79 billion. These totals would mark changes of +86.78% and +148.83%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NIO. These revisions help to show the ever-changing nature of near-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.98% higher. NIO currently has a Zacks Rank of #2 (Buy).
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 15% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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