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Tesla (TSLA) Gains As Market Dips: What You Should Know
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Tesla (TSLA - Free Report) closed at $753.87 in the latest trading session, marking a +0.13% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.13%.
Heading into today, shares of the electric car maker had gained 6.05% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 0.89% and the S&P 500's gain of 2.07% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release. The company is expected to report EPS of $1.25, up 64.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.93 billion, up 47.4% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $5.06 per share and revenue of $50.41 billion. These results would represent year-over-year changes of +125.89% and +59.86%, respectively.
It is also important to note the recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.59% higher. TSLA currently has a Zacks Rank of #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 148.77. For comparison, its industry has an average Forward P/E of 14.41, which means TSLA is trading at a premium to the group.
Also, we should mention that TSLA has a PEG ratio of 4.25. 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 1.12 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% 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) Gains As Market Dips: What You Should Know
Tesla (TSLA - Free Report) closed at $753.87 in the latest trading session, marking a +0.13% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.13%.
Heading into today, shares of the electric car maker had gained 6.05% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 0.89% and the S&P 500's gain of 2.07% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release. The company is expected to report EPS of $1.25, up 64.47% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $12.93 billion, up 47.4% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $5.06 per share and revenue of $50.41 billion. These results would represent year-over-year changes of +125.89% and +59.86%, respectively.
It is also important to note the recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate has moved 6.59% higher. TSLA currently has a Zacks Rank of #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 148.77. For comparison, its industry has an average Forward P/E of 14.41, which means TSLA is trading at a premium to the group.
Also, we should mention that TSLA has a PEG ratio of 4.25. 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 1.12 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% 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.