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Tesla (TSLA - Free Report) closed the latest trading day at $168.38, indicating a +1.05% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.
The electric car maker's shares have seen a decrease of 7.81% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 6.8% and the S&P 500's gain of 1.5%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. The company is forecasted to report an EPS of $0.61, showcasing a 28.24% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $24.63 billion, up 5.57% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3 per share and a revenue of $109.92 billion, indicating changes of -3.85% and +13.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tesla. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.75% lower. Tesla currently has a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Tesla is currently exchanging hands at a Forward P/E ratio of 55.64. This indicates a premium in contrast to its industry's Forward P/E of 14.92.
It's also important to note that TSLA currently trades at a PEG ratio of 2.49. 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. TSLA's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Tesla (TSLA) Laps the Stock Market: Here's Why
Tesla (TSLA - Free Report) closed the latest trading day at $168.38, indicating a +1.05% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.11%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.23%.
The electric car maker's shares have seen a decrease of 7.81% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 6.8% and the S&P 500's gain of 1.5%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is scheduled to release its earnings on April 23, 2024. The company is forecasted to report an EPS of $0.61, showcasing a 28.24% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $24.63 billion, up 5.57% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3 per share and a revenue of $109.92 billion, indicating changes of -3.85% and +13.59%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tesla. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.75% lower. Tesla currently has a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, Tesla is currently exchanging hands at a Forward P/E ratio of 55.64. This indicates a premium in contrast to its industry's Forward P/E of 14.92.
It's also important to note that TSLA currently trades at a PEG ratio of 2.49. 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. TSLA's industry had an average PEG ratio of 1.89 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.