We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Tesla (TSLA) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
Tesla (TSLA - Free Report) closed at $392.78 in the latest trading session, marking a -1.63% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.36% for the day. Meanwhile, the Dow lost 1.64%, and the Nasdaq, a tech-heavy index, lost 1.46%.
Shares of the electric car maker have depreciated by 2.77% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 6.26%, and lagging the S&P 500's loss of 1.76%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.39, indicating a 44.44% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $22.51 billion, indicating a 16.43% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.08 per share and a revenue of $102.71 billion, demonstrating changes of +25.3% and +8.32%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 1.12% lower. Tesla is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Tesla is presently trading at a Forward P/E ratio of 192.3. This denotes a premium relative to the industry average Forward P/E of 14.9.
It is also worth noting that TSLA currently has a PEG ratio of 8.18. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic industry had an average PEG ratio of 0.97 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Tesla (TSLA) Suffers a Larger Drop Than the General Market: Key Insights
Tesla (TSLA - Free Report) closed at $392.78 in the latest trading session, marking a -1.63% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 1.36% for the day. Meanwhile, the Dow lost 1.64%, and the Nasdaq, a tech-heavy index, lost 1.46%.
Shares of the electric car maker have depreciated by 2.77% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 6.26%, and lagging the S&P 500's loss of 1.76%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.39, indicating a 44.44% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $22.51 billion, indicating a 16.43% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.08 per share and a revenue of $102.71 billion, demonstrating changes of +25.3% and +8.32%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 1.12% lower. Tesla is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Tesla is presently trading at a Forward P/E ratio of 192.3. This denotes a premium relative to the industry average Forward P/E of 14.9.
It is also worth noting that TSLA currently has a PEG ratio of 8.18. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Automotive - Domestic industry had an average PEG ratio of 0.97 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 159, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.