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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) closed at $436.00 in the latest trading session, marking a -5.11% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.39%.
The stock of electric car maker has risen by 37.53% in the past month, leading the Auto-Tires-Trucks sector's gain of 21% and the S&P 500's gain of 3.94%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.48, showcasing a 33.33% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $25.42 billion, indicating a 0.96% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and revenue of $92.66 billion, which would represent changes of -31.4% and -5.15%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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 business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.35% higher within the past month. Tesla is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Tesla is presently trading at a Forward P/E ratio of 276.53. This represents a premium compared to its industry average Forward P/E of 13.36.
Also, we should mention that TSLA has a PEG ratio of 11.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic industry currently had an average PEG ratio of 2.5 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 147, this industry ranks in the bottom 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) closed at $436.00 in the latest trading session, marking a -5.11% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.06%. On the other hand, the Dow registered a gain of 0.17%, and the technology-centric Nasdaq increased by 0.39%.
The stock of electric car maker has risen by 37.53% in the past month, leading the Auto-Tires-Trucks sector's gain of 21% and the S&P 500's gain of 3.94%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.48, showcasing a 33.33% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $25.42 billion, indicating a 0.96% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.66 per share and revenue of $92.66 billion, which would represent changes of -31.4% and -5.15%, respectively, from the prior year.
Investors should also pay attention to any latest changes in 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 business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.35% higher within the past month. Tesla is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Tesla is presently trading at a Forward P/E ratio of 276.53. This represents a premium compared to its industry average Forward P/E of 13.36.
Also, we should mention that TSLA has a PEG ratio of 11.55. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic industry currently had an average PEG ratio of 2.5 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 147, this industry ranks in the bottom 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.