NIO (NYSE:NIO) Posts Earnings Results, Misses Estimates By $2.65 EPS

NIO (NYSE:NIO) released its quarterly earnings data on Tuesday. The company reported ($3.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($2.65), Briefing.com reports. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.21 billion. NIO’s revenue for the quarter was up 3180.2% compared to the same quarter last year. During the same period last year, the business posted ($57.82) earnings per share. NIO updated its Q3 2019 guidance to EPS.

NYSE NIO opened at $2.05 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.49 and a debt-to-equity ratio of 3.73. The firm has a market cap of $2.79 billion and a PE ratio of -0.20. The company has a 50 day moving average price of $2.96 and a 200 day moving average price of $3.84. NIO has a 52 week low of $1.97 and a 52 week high of $10.64.

NIO has been the subject of several research reports. Zacks Investment Research raised shares of NIO from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Tuesday, September 10th. Morgan Stanley cut shares of NIO from an “overweight” rating to an “equal weight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.36.

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.

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