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Tesla (TSLA) Stock Falls Amid Market Uptick: What Investors Need to Know
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Tesla (TSLA - Free Report) closed the most recent trading day at $446.87, moving -1.02% from the previous trading session. This change lagged the S&P 500's daily gain of 0.21%. On the other hand, the Dow registered a gain of 1.35%, and the technology-centric Nasdaq decreased by 0.26%.
Shares of the electric car maker witnessed a gain of 4.84% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its gain of 2.04%, and the S&P 500's gain of 0.89%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is predicted to post an EPS of $0.45, indicating a 38.36% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $24.87 billion, indicating a 3.25% decrease compared to the same quarter of the previous year.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $1.64 per share and revenue of $94.86 billion. These results would represent year-over-year changes of -32.23% and -2.89%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health 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. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. Right now, Tesla possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 275.02. This represents a premium compared to its industry average Forward P/E of 16.56.
We can also see that TSLA currently has a PEG ratio of 10.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Tesla (TSLA) Stock Falls Amid Market Uptick: What Investors Need to Know
Tesla (TSLA - Free Report) closed the most recent trading day at $446.87, moving -1.02% from the previous trading session. This change lagged the S&P 500's daily gain of 0.21%. On the other hand, the Dow registered a gain of 1.35%, and the technology-centric Nasdaq decreased by 0.26%.
Shares of the electric car maker witnessed a gain of 4.84% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its gain of 2.04%, and the S&P 500's gain of 0.89%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is predicted to post an EPS of $0.45, indicating a 38.36% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $24.87 billion, indicating a 3.25% decrease compared to the same quarter of the previous year.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $1.64 per share and revenue of $94.86 billion. These results would represent year-over-year changes of -32.23% and -2.89%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health 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. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. Right now, Tesla possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 275.02. This represents a premium compared to its industry average Forward P/E of 16.56.
We can also see that TSLA currently has a PEG ratio of 10.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic was holding an average PEG ratio of 1.89 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 27% of all 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.
You can find more information on all of these metrics, and much more, on Zacks.com.