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Tesla (TSLA) Ascends But Remains Behind Market: Some Facts to Note
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The latest trading session saw Tesla (TSLA - Free Report) ending at $411.05, denoting a +0.15% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, added 1.24%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.76, reflecting a 7.04% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $27.81 billion, indicating a 10.48% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 0.7% lower. As of now, Tesla holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Tesla has a Forward P/E ratio of 125.96 right now. This represents a premium compared to its industry's average Forward P/E of 13.32.
Also, we should mention that TSLA has a PEG ratio of 6.22. 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. The Automotive - Domestic industry had an average PEG ratio of 1.64 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
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) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw Tesla (TSLA - Free Report) ending at $411.05, denoting a +0.15% adjustment from its last day's close. The stock lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, added 1.24%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.76, reflecting a 7.04% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $27.81 billion, indicating a 10.48% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection has moved 0.7% lower. As of now, Tesla holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Tesla has a Forward P/E ratio of 125.96 right now. This represents a premium compared to its industry's average Forward P/E of 13.32.
Also, we should mention that TSLA has a PEG ratio of 6.22. 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. The Automotive - Domestic industry had an average PEG ratio of 1.64 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.