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Tesla (TSLA) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Tesla (TSLA - Free Report) closed at $304.42, marking a +1.58% move from the previous day. This move outpaced the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the electric car maker had lost 0.12% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 1.4% and was narrower than the S&P 500's loss of 1.14% in that time.
Tesla will be looking to display strength as it nears its next earnings release. In that report, analysts expect Tesla to post earnings of $0.92 per share. This would mark year-over-year growth of 48.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.94 billion, up 66.73% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.99 per share and revenue of $85.24 billion. These totals would mark changes of +76.55% and +58.38%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.49% higher. Tesla is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 75.18. For comparison, its industry has an average Forward P/E of 11.31, which means Tesla is trading at a premium to the group.
It is also worth noting that TSLA currently has a PEG ratio of 2.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Domestic industry currently had an average PEG ratio of 0.86 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 84, putting it in the top 34% 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.
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Tesla (TSLA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Tesla (TSLA - Free Report) closed at $304.42, marking a +1.58% move from the previous day. This move outpaced the S&P 500's daily gain of 1.06%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.09%.
Prior to today's trading, shares of the electric car maker had lost 0.12% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 1.4% and was narrower than the S&P 500's loss of 1.14% in that time.
Tesla will be looking to display strength as it nears its next earnings release. In that report, analysts expect Tesla to post earnings of $0.92 per share. This would mark year-over-year growth of 48.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.94 billion, up 66.73% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.99 per share and revenue of $85.24 billion. These totals would mark changes of +76.55% and +58.38%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.49% higher. Tesla is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 75.18. For comparison, its industry has an average Forward P/E of 11.31, which means Tesla is trading at a premium to the group.
It is also worth noting that TSLA currently has a PEG ratio of 2.41. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Domestic industry currently had an average PEG ratio of 0.86 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 84, putting it in the top 34% 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.