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Tesla (TSLA) Gains As Market Dips: What You Should Know
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Tesla (TSLA - Free Report) closed the most recent trading day at $217.24, moving +0.34% from the previous trading session. This change outpaced the S&P 500's 0.33% loss on the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the electric car maker had lost 25.89% over the past month, lagging the Auto-Tires-Trucks sector's loss of 21.49% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from Tesla as it approaches its next earnings release, which is expected to be October 19, 2022. On that day, Tesla is projected to report earnings of $0.97 per share, which would represent year-over-year growth of 56.45%. Meanwhile, our latest consensus estimate is calling for revenue of $22.55 billion, up 63.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.03 per share and revenue of $85.06 billion, which would represent changes of +78.32% and +58.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.57% higher. Tesla is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 53.72. For comparison, its industry has an average Forward P/E of 10.43, which means Tesla is trading at a premium to the group.
Investors should also note that TSLA has a PEG ratio of 1.71 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Domestic industry currently had an average PEG ratio of 0.74 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Tesla (TSLA) Gains As Market Dips: What You Should Know
Tesla (TSLA - Free Report) closed the most recent trading day at $217.24, moving +0.34% from the previous trading session. This change outpaced the S&P 500's 0.33% loss on the day. Elsewhere, the Dow lost 0.1%, while the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the electric car maker had lost 25.89% over the past month, lagging the Auto-Tires-Trucks sector's loss of 21.49% and the S&P 500's loss of 11.67% in that time.
Investors will be hoping for strength from Tesla as it approaches its next earnings release, which is expected to be October 19, 2022. On that day, Tesla is projected to report earnings of $0.97 per share, which would represent year-over-year growth of 56.45%. Meanwhile, our latest consensus estimate is calling for revenue of $22.55 billion, up 63.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.03 per share and revenue of $85.06 billion, which would represent changes of +78.32% and +58.04%, respectively, from the prior year.
Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.57% higher. Tesla is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 53.72. For comparison, its industry has an average Forward P/E of 10.43, which means Tesla is trading at a premium to the group.
Investors should also note that TSLA has a PEG ratio of 1.71 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Domestic industry currently had an average PEG ratio of 0.74 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.