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Tesla (TSLA) Stock Sinks As Market Gains: What You Should Know

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Tesla (TSLA - Free Report) closed the most recent trading day at $307.52, moving -0.63% from the previous trading session. This change lagged the S&P 500's 0.28% gain on the day. Elsewhere, the Dow gained 0.21%, while the tech-heavy Nasdaq added 0.65%.

Coming into today, shares of the electric car maker had gained 1.5% in the past month. In that same time, the Auto-Tires-Trucks sector gained 0.28%, while the S&P 500 gained 0.86%.

TSLA will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2018. On that day, TSLA is projected to report earnings of -$0.68 per share, which would represent year-over-year growth of 76.71%. Meanwhile, our latest consensus estimate is calling for revenue of $5.55 billion, up 85.88% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$6.60 per share and revenue of $19.48 billion. These totals would mark changes of +23.79% and +65.66%, respectively, from last year.

Any recent changes to analyst estimates for TSLA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. TSLA is currently a Zacks Rank #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% 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.

To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com.


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