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Tesla (TSLA) Advances While Market Declines: Some Information for Investors
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The most recent trading session ended with Tesla (TSLA - Free Report) standing at $219.91, reflecting a +0.47% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.37%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 0.19%.
Coming into today, shares of the electric car maker had lost 13.17% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.68%, while the S&P 500 gained 1.56%.
Market participants will be closely following the financial results of Tesla in its upcoming release. The company plans to announce its earnings on January 24, 2024. The company's upcoming EPS is projected at $0.74, signifying a 37.82% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $26 billion, showing a 6.9% escalation compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 0.16% rise in the Zacks Consensus EPS estimate. Tesla currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Tesla has a Forward P/E ratio of 56.31 right now. This indicates a premium in contrast to its industry's Forward P/E of 11.29.
Also, we should mention that TSLA has a PEG ratio of 2.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Automotive - Domestic industry stood at 1.24 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Tesla (TSLA) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with Tesla (TSLA - Free Report) standing at $219.91, reflecting a +0.47% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.37%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 0.19%.
Coming into today, shares of the electric car maker had lost 13.17% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.68%, while the S&P 500 gained 1.56%.
Market participants will be closely following the financial results of Tesla in its upcoming release. The company plans to announce its earnings on January 24, 2024. The company's upcoming EPS is projected at $0.74, signifying a 37.82% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $26 billion, showing a 6.9% escalation compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 0.16% rise in the Zacks Consensus EPS estimate. Tesla currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Tesla has a Forward P/E ratio of 56.31 right now. This indicates a premium in contrast to its industry's Forward P/E of 11.29.
Also, we should mention that TSLA has a PEG ratio of 2.95. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Automotive - Domestic industry stood at 1.24 at the close of the market yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.