NIO (NYSE:NIO) Releases Earnings Results, Meets Expectations

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

NIO Stock Performance

Shares of NYSE:NIO opened at $4.85 on Friday. The company’s 50 day moving average price is $4.25 and its two-hundred day moving average price is $4.72. NIO has a 12-month low of $3.61 and a 12-month high of $10.91. The firm has a market cap of $8.34 billion, a PE ratio of -2.87 and a beta of 1.82. The company has a quick ratio of 1.03, a current ratio of 1.15 and a debt-to-equity ratio of 0.55.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NIO. Bank of America upped their target price on shares of NIO from $5.00 to $5.30 and gave the company a “neutral” rating in a report on Thursday. Wolfe Research started coverage on shares of NIO in a report on Thursday. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. raised shares of NIO from a “neutral” rating to an “overweight” rating and increased their price target for the company from $5.30 to $8.00 in a report on Friday. Finally, Citigroup lowered their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.94.

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.