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Tesla (TSLA) Rises But Trails Market: What Investors Should Know
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The latest trading session saw Tesla (TSLA - Free Report) ending at $219.15, denoting a +0.62% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Heading into today, shares of the electric car maker had lost 5.42% over the past month, lagging the Auto-Tires-Trucks sector's loss of 3.74% and the S&P 500's gain of 4.87% in that time.
Investors will be eagerly watching for the performance of Tesla in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 23, 2024. The company is expected to report EPS of $0.57, down 13.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $25.55 billion, up 9.41% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.25 per share and revenue of $98.74 billion, indicating changes of -27.88% and +2.03%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.57% upward. Right now, Tesla possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Tesla is at present trading with a Forward P/E ratio of 96.74. This denotes a premium relative to the industry's average Forward P/E of 12.58.
It is also worth noting that TSLA currently has a PEG ratio of 4.6. 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 average PEG ratio for the Automotive - Domestic industry stood at 1.48 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 209, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Tesla (TSLA) Rises But Trails Market: What Investors Should Know
The latest trading session saw Tesla (TSLA - Free Report) ending at $219.15, denoting a +0.62% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Heading into today, shares of the electric car maker had lost 5.42% over the past month, lagging the Auto-Tires-Trucks sector's loss of 3.74% and the S&P 500's gain of 4.87% in that time.
Investors will be eagerly watching for the performance of Tesla in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 23, 2024. The company is expected to report EPS of $0.57, down 13.64% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $25.55 billion, up 9.41% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.25 per share and revenue of $98.74 billion, indicating changes of -27.88% and +2.03%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.57% upward. Right now, Tesla possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Tesla is at present trading with a Forward P/E ratio of 96.74. This denotes a premium relative to the industry's average Forward P/E of 12.58.
It is also worth noting that TSLA currently has a PEG ratio of 4.6. 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 average PEG ratio for the Automotive - Domestic industry stood at 1.48 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 209, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.