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Tesla (TSLA) Declines More Than Market: Some Information for Investors
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Tesla (TSLA - Free Report) closed the most recent trading day at $404.66, moving -1.58% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
Shares of the electric car maker witnessed a gain of 0.28% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 0.94%, and underperforming the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of Tesla in its upcoming release. On that day, Tesla is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 12.5%. At the same time, our most recent consensus estimate is projecting a revenue of $24.32 billion, reflecting a 8.09% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.99 per share and a revenue of $100.93 billion, representing changes of +19.88% and +6.43%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 1.27% lower. At present, Tesla boasts a Zacks Rank of #4 (Sell).
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 206.48. This indicates a premium in contrast to its industry's Forward P/E of 19.68.
It is also worth noting that TSLA currently has a PEG ratio of 9.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Automotive - Domestic was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Tesla (TSLA) Declines More Than Market: Some Information for Investors
Tesla (TSLA - Free Report) closed the most recent trading day at $404.66, moving -1.58% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
Shares of the electric car maker witnessed a gain of 0.28% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 0.94%, and underperforming the S&P 500's gain of 2.14%.
Market participants will be closely following the financial results of Tesla in its upcoming release. On that day, Tesla is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 12.5%. At the same time, our most recent consensus estimate is projecting a revenue of $24.32 billion, reflecting a 8.09% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.99 per share and a revenue of $100.93 billion, representing changes of +19.88% and +6.43%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 1.27% lower. At present, Tesla boasts a Zacks Rank of #4 (Sell).
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 206.48. This indicates a premium in contrast to its industry's Forward P/E of 19.68.
It is also worth noting that TSLA currently has a PEG ratio of 9.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Automotive - Domestic was holding an average PEG ratio of 0.95 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.