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Tesla (TSLA) Gains As Market Dips: What You Should Know
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In the latest trading session, Tesla (TSLA - Free Report) closed at $173.44, marking a +0.3% move from the previous day. This move outpaced the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Heading into today, shares of the electric car maker had lost 16.59% over the past month, lagging the Auto-Tires-Trucks sector's loss of 9.62% and the S&P 500's loss of 3.83% in that time.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. In that report, analysts expect Tesla to post earnings of $0.86 per share. This would mark a year-over-year decline of 19.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.58 billion, up 25.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.96 per share and revenue of $101.42 billion, which would represent changes of -2.7% and +24.5%, respectively, from the prior year.
Any recent changes to analyst estimates for Tesla should also be noted by investors. 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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Tesla is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Tesla currently has a Forward P/E ratio of 43.68. This represents a premium compared to its industry's average Forward P/E of 12.16.
It is also worth noting that TSLA currently has a PEG ratio of 1.81. 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 1.52 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 158, putting it in the bottom 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.
To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com.
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Tesla (TSLA) Gains As Market Dips: What You Should Know
In the latest trading session, Tesla (TSLA - Free Report) closed at $173.44, marking a +0.3% move from the previous day. This move outpaced the S&P 500's daily loss of 1.45%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Heading into today, shares of the electric car maker had lost 16.59% over the past month, lagging the Auto-Tires-Trucks sector's loss of 9.62% and the S&P 500's loss of 3.83% in that time.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. In that report, analysts expect Tesla to post earnings of $0.86 per share. This would mark a year-over-year decline of 19.63%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.58 billion, up 25.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.96 per share and revenue of $101.42 billion, which would represent changes of -2.7% and +24.5%, respectively, from the prior year.
Any recent changes to analyst estimates for Tesla should also be noted by investors. 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.
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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Tesla is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Tesla currently has a Forward P/E ratio of 43.68. This represents a premium compared to its industry's average Forward P/E of 12.16.
It is also worth noting that TSLA currently has a PEG ratio of 1.81. 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 1.52 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 158, putting it in the bottom 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.
To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com.