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Tesla (TSLA) Stock Slides as Market Rises: Facts to Know Before You Trade
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Tesla (TSLA - Free Report) ended the recent trading session at $345.98, demonstrating a -1.04% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw an increase of 0.53%.
The electric car maker's stock has climbed by 9.58% in the past month, exceeding the Auto-Tires-Trucks sector's gain of 6.4% and the S&P 500's gain of 1.52%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is expected to report EPS of $0.46, down 36.11% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $24.89 billion, indicating a 1.17% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and revenue of $92.64 billion, which would represent changes of -31.4% and -5.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.05% rise in the Zacks Consensus EPS estimate. Currently, Tesla is carrying a Zacks Rank of #4 (Sell).
Digging into valuation, Tesla currently has a Forward P/E ratio of 210.9. This valuation marks a premium compared to its industry average Forward P/E of 14.41.
We can also see that TSLA currently has a PEG ratio of 8.81. 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. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 2.49.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 166, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Tesla (TSLA) Stock Slides as Market Rises: Facts to Know Before You Trade
Tesla (TSLA - Free Report) ended the recent trading session at $345.98, demonstrating a -1.04% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw an increase of 0.53%.
The electric car maker's stock has climbed by 9.58% in the past month, exceeding the Auto-Tires-Trucks sector's gain of 6.4% and the S&P 500's gain of 1.52%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is expected to report EPS of $0.46, down 36.11% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $24.89 billion, indicating a 1.17% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and revenue of $92.64 billion, which would represent changes of -31.4% and -5.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.05% rise in the Zacks Consensus EPS estimate. Currently, Tesla is carrying a Zacks Rank of #4 (Sell).
Digging into valuation, Tesla currently has a Forward P/E ratio of 210.9. This valuation marks a premium compared to its industry average Forward P/E of 14.41.
We can also see that TSLA currently has a PEG ratio of 8.81. 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. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 2.49.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 166, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.