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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Tesla (TSLA - Free Report) closed at $238.13, marking a -1.11% move from the previous day. This move lagged the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.15%, and the Nasdaq, a tech-heavy index, added 0.39%.
Coming into today, shares of the electric car maker had lost 15.12% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.04%, while the S&P 500 lost 3.51%.
Tesla will be looking to display strength as it nears its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $0.97, up 56.45% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $22.55 billion, up 63.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.03 per share and revenue of $85.07 billion, which would represent changes of +78.32% and +58.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Tesla. 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.
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, 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 1.57% higher. Tesla is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Tesla currently has a Forward P/E ratio of 59.77. For comparison, its industry has an average Forward P/E of 11.76, which means Tesla is trading at a premium to the group.
Meanwhile, TSLA's PEG ratio is currently 1.91. 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. TSLA's industry had an average PEG ratio of 0.77 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 75, which puts it in the top 30% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Tesla (TSLA - Free Report) closed at $238.13, marking a -1.11% move from the previous day. This move lagged the S&P 500's daily loss of 1.03%. Meanwhile, the Dow lost 1.15%, and the Nasdaq, a tech-heavy index, added 0.39%.
Coming into today, shares of the electric car maker had lost 15.12% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.04%, while the S&P 500 lost 3.51%.
Tesla will be looking to display strength as it nears its next earnings release, which is expected to be October 19, 2022. The company is expected to report EPS of $0.97, up 56.45% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $22.55 billion, up 63.94% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.03 per share and revenue of $85.07 billion, which would represent changes of +78.32% and +58.05%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Tesla. 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.
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, 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 1.57% higher. Tesla is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Tesla currently has a Forward P/E ratio of 59.77. For comparison, its industry has an average Forward P/E of 11.76, which means Tesla is trading at a premium to the group.
Meanwhile, TSLA's PEG ratio is currently 1.91. 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. TSLA's industry had an average PEG ratio of 0.77 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 75, which puts it in the top 30% 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.