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Tesla (TSLA) Gains As Market Dips: What You Should Know
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Tesla (TSLA - Free Report) closed at $781.53 in the latest trading session, marking a +0.81% move from the prior day. This move outpaced the S&P 500's daily loss of 1.3%.
Coming into today, shares of the electric car maker had gained 5.68% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.43%, while the S&P 500 lost 3.58%.
TSLA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.29, up 69.74% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $13.03 billion, up 48.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.18 per share and revenue of $50.67 billion, which would represent changes of +131.25% and +60.68%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TSLA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 2.44% higher within the past month. TSLA is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that TSLA has a Forward P/E ratio of 149.74 right now. Its industry sports an average Forward P/E of 13.88, so we one might conclude that TSLA is trading at a premium comparatively.
Also, we should mention that TSLA has a PEG ratio of 3.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic was holding an average PEG ratio of 1.14 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
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 at $781.53 in the latest trading session, marking a +0.81% move from the prior day. This move outpaced the S&P 500's daily loss of 1.3%.
Coming into today, shares of the electric car maker had gained 5.68% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.43%, while the S&P 500 lost 3.58%.
TSLA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.29, up 69.74% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $13.03 billion, up 48.5% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.18 per share and revenue of $50.67 billion, which would represent changes of +131.25% and +60.68%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for TSLA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 2.44% higher within the past month. TSLA is holding a Zacks Rank of #1 (Strong Buy) right now.
Valuation is also important, so investors should note that TSLA has a Forward P/E ratio of 149.74 right now. Its industry sports an average Forward P/E of 13.88, so we one might conclude that TSLA is trading at a premium comparatively.
Also, we should mention that TSLA has a PEG ratio of 3.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic was holding an average PEG ratio of 1.14 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.