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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
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Tesla (TSLA - Free Report) closed at $321.64 in the latest trading session, marking a -0.14% move from the prior day. The stock lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq added 0.38%.
Heading into today, shares of the electric car maker had gained 8.23% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 2.07% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be November 7, 2018. On that day, TSLA is projected to report earnings of -$0.58 per share, which would represent year-over-year growth of 80.14%. Meanwhile, our latest consensus estimate is calling for revenue of $5.76 billion, up 93.09% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.81 per share and revenue of $19.66 billion, which would represent changes of +21.36% and +67.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.6% higher within the past month. TSLA is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 86, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
Tesla (TSLA - Free Report) closed at $321.64 in the latest trading session, marking a -0.14% move from the prior day. The stock lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.34%, while the tech-heavy Nasdaq added 0.38%.
Heading into today, shares of the electric car maker had gained 8.23% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 2.07% and the S&P 500's gain of 2.35% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be November 7, 2018. On that day, TSLA is projected to report earnings of -$0.58 per share, which would represent year-over-year growth of 80.14%. Meanwhile, our latest consensus estimate is calling for revenue of $5.76 billion, up 93.09% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.81 per share and revenue of $19.66 billion, which would represent changes of +21.36% and +67.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.6% higher within the past month. TSLA is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 86, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.