NIO (NYSE:NIO) Posts Quarterly Earnings Results, Hits Estimates

NIO (NYSE:NIO) issued its earnings results on Thursday. The company reported ($2.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($2.21), Briefing.com reports. NIO had a negative net margin of 39.38% and a negative return on equity of 111.91%. The business had revenue of $17.45 billion for the quarter, compared to the consensus estimate of $17.49 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 98.9% on a year-over-year basis. NIO updated its Q3 2024 guidance to EPS.

NIO Stock Performance

Shares of NYSE:NIO traded up $0.17 on Friday, reaching $5.02. 105,245,025 shares of the company’s stock were exchanged, compared to its average volume of 51,741,512. NIO has a twelve month low of $3.61 and a twelve month high of $10.88. The company has a fifty day moving average of $4.27 and a 200-day moving average of $4.71. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of -2.98 and a beta of 1.82. The company has a current ratio of 1.15, a quick ratio of 1.03 and a debt-to-equity ratio of 0.55.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research initiated coverage on shares of NIO in a report on Thursday. They issued a “peer perform” rating on the stock. Citigroup reduced their price objective on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America increased their price objective on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $5.30 to $8.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, NIO presently has an average rating of “Hold” and a consensus target price of $5.93.

NIO Company Profile

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.