We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Tesla (TSLA - Free Report) closed at $251.99 in the latest trading session, marking a -1.75% move from the prior day. This move lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Coming into today, shares of the electric car maker had gained 2.72% in the past month. In that same time, the Auto-Tires-Trucks sector lost 1.4%, while the S&P 500 gained 0.58%.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. On that day, Tesla is projected to report earnings of $0.79 per share, which would represent a year-over-year decline of 24.76%. Our most recent consensus estimate is calling for quarterly revenue of $25.09 billion, up 16.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.47 per share and revenue of $100.14 billion, which would represent changes of -14.74% and +22.92%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Tesla. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 remained stagnant within the past month. Tesla currently has a Zacks Rank of #3 (Hold).
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 73.9. Its industry sports an average Forward P/E of 10.07, so we one might conclude that Tesla is trading at a premium comparatively.
We can also see that TSLA currently has a PEG ratio of 3.38. 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 1.21 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 101, which puts it in the top 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
Tesla (TSLA - Free Report) closed at $251.99 in the latest trading session, marking a -1.75% move from the prior day. This move lagged the S&P 500's daily loss of 0.7%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 1.06%.
Coming into today, shares of the electric car maker had gained 2.72% in the past month. In that same time, the Auto-Tires-Trucks sector lost 1.4%, while the S&P 500 gained 0.58%.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. On that day, Tesla is projected to report earnings of $0.79 per share, which would represent a year-over-year decline of 24.76%. Our most recent consensus estimate is calling for quarterly revenue of $25.09 billion, up 16.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.47 per share and revenue of $100.14 billion, which would represent changes of -14.74% and +22.92%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Tesla. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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 remained stagnant within the past month. Tesla currently has a Zacks Rank of #3 (Hold).
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 73.9. Its industry sports an average Forward P/E of 10.07, so we one might conclude that Tesla is trading at a premium comparatively.
We can also see that TSLA currently has a PEG ratio of 3.38. 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 1.21 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 101, which puts it in the top 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.