Brokers Issue Forecasts for NIO's FY2024 Earnings (NYSE:NIO)

Nio Inc - (NYSE:NIO - Free Report) - Investment analysts at Zacks Research reduced their FY2024 EPS estimates for shares of NIO in a research report issued to clients and investors on Wednesday, December 4th. Zacks Research analyst L. Shahu now anticipates that the company will post earnings of ($1.46) per share for the year, down from their prior forecast of ($1.39). The consensus estimate for NIO's current full-year earnings is ($1.41) per share. Zacks Research also issued estimates for NIO's Q4 2024 earnings at ($0.40) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.26) EPS, FY2025 earnings at ($0.98) EPS, Q1 2026 earnings at ($0.04) EPS, Q2 2026 earnings at ($0.04) EPS, Q3 2026 earnings at $0.02 EPS and FY2026 earnings at $0.00 EPS.

NIO (NYSE:NIO - Get Free Report) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share for the quarter, hitting the consensus estimate of ($2.21). The company had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. NIO had a negative net margin of 33.41% and a negative return on equity of 113.83%. NIO's revenue was up 98.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.51) EPS.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of NIO from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $5.30 to $8.00 in a research report on Friday, September 6th. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the stock a "neutral" rating in a research note on Thursday, September 5th. Wolfe Research assumed coverage on shares of NIO in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. The Goldman Sachs Group lowered shares of NIO from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $4.80 to $3.90 in a research note on Monday, November 25th. Finally, Citigroup cut their price objective on shares of NIO from $8.50 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NIO currently has a consensus rating of "Hold" and an average target price of $5.71.

NIO Stock Performance

NYSE:NIO traded up $0.57 during trading hours on Monday, hitting $5.18. 121,861,656 shares of the company were exchanged, compared to its average volume of 57,108,219. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of -3.43 and a beta of 1.77. NIO has a 52-week low of $3.61 and a 52-week high of $9.57. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The company's 50 day moving average price is $5.25 and its 200-day moving average price is $4.84.

Hedge Funds Weigh In On NIO

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in NIO by 2.4% during the third quarter. Tidal Investments LLC now owns 280,140 shares of the company's stock valued at $1,871,000 after purchasing an additional 6,545 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in NIO by 63.1% during the third quarter. Sanctuary Advisors LLC now owns 82,859 shares of the company's stock valued at $553,000 after purchasing an additional 32,069 shares in the last quarter. Toronto Dominion Bank lifted its holdings in NIO by 1,652,962.5% during the third quarter. Toronto Dominion Bank now owns 132,245 shares of the company's stock valued at $883,000 after purchasing an additional 132,237 shares in the last quarter. Main Management ETF Advisors LLC purchased a new position in NIO during the third quarter valued at $1,327,000. Finally, XTX Topco Ltd purchased a new position in NIO during the third quarter valued at $1,178,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.