Tesla (TSLA - Free Report) closed the most recent trading day at $667.99, moving -1.62% from the previous trading session. This change was narrower than the S&P 500's 3.17% loss on the day. At the same time, the Dow lost 3.77%, and the tech-heavy Nasdaq lost 2.28%.
Heading into today, shares of the electric car maker had gained 5.96% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 4.29% and the S&P 500's loss of 8.05% in that time.
TSLA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.82, up 128.28% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.42 billion, up 41.29% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $8.08 per share and revenue of $32.09 billion. These results would represent year-over-year changes of +6115.38% and +30.58%, respectively.
Investors might also notice recent changes to analyst estimates for TSLA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 25.88% lower within the past month. TSLA is currently a Zacks Rank #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 84.06. This represents a premium compared to its industry's average Forward P/E of 11.2.
Also, we should mention that TSLA has a PEG ratio of 2.11. 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 1.3 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 114, putting it in the top 45% 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Tesla (TSLA - Free Report) closed the most recent trading day at $667.99, moving -1.62% from the previous trading session. This change was narrower than the S&P 500's 3.17% loss on the day. At the same time, the Dow lost 3.77%, and the tech-heavy Nasdaq lost 2.28%.
Heading into today, shares of the electric car maker had gained 5.96% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 4.29% and the S&P 500's loss of 8.05% in that time.
TSLA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.82, up 128.28% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.42 billion, up 41.29% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $8.08 per share and revenue of $32.09 billion. These results would represent year-over-year changes of +6115.38% and +30.58%, respectively.
Investors might also notice recent changes to analyst estimates for TSLA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 25.88% lower within the past month. TSLA is currently a Zacks Rank #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 84.06. This represents a premium compared to its industry's average Forward P/E of 11.2.
Also, we should mention that TSLA has a PEG ratio of 2.11. 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 1.3 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 114, putting it in the top 45% 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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