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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 $605.13, moving +1.01% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.08%.
Coming into today, shares of the electric car maker had lost 10.91% in the past month. In that same time, the Auto-Tires-Trucks sector gained 3.91%, while the S&P 500 gained 1.68%.
TSLA will be looking to display strength as it nears its next earnings release. On that day, TSLA is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 102.27%. Meanwhile, our latest consensus estimate is calling for revenue of $11.38 billion, up 88.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.25 per share and revenue of $49.39 billion, which would represent changes of +89.73% and +56.61%, respectively, from the prior year.
Any recent changes to analyst estimates for TSLA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Within the past 30 days, our consensus EPS projection remained stagnant. TSLA is currently a Zacks Rank #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 140.92. Its industry sports an average Forward P/E of 16.52, so we one might conclude that TSLA is trading at a premium comparatively.
Investors should also note that TSLA has a PEG ratio of 3.76 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.64 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $605.13, moving +1.01% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.08%.
Coming into today, shares of the electric car maker had lost 10.91% in the past month. In that same time, the Auto-Tires-Trucks sector gained 3.91%, while the S&P 500 gained 1.68%.
TSLA will be looking to display strength as it nears its next earnings release. On that day, TSLA is projected to report earnings of $0.89 per share, which would represent year-over-year growth of 102.27%. Meanwhile, our latest consensus estimate is calling for revenue of $11.38 billion, up 88.57% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.25 per share and revenue of $49.39 billion, which would represent changes of +89.73% and +56.61%, respectively, from the prior year.
Any recent changes to analyst estimates for TSLA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Within the past 30 days, our consensus EPS projection remained stagnant. TSLA is currently a Zacks Rank #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 140.92. Its industry sports an average Forward P/E of 16.52, so we one might conclude that TSLA is trading at a premium comparatively.
Investors should also note that TSLA has a PEG ratio of 3.76 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.64 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 115, which puts it in the top 46% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.