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Tesla (TSLA) Ascends While Market Falls: Some Facts to Note
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In the latest trading session, Tesla (TSLA - Free Report) closed at $405.05, marking a +1.14% move from the previous day. This move outpaced the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.
Coming into today, shares of the electric car maker had lost 5.99% in the past month. In that same time, the Auto-Tires-Trucks sector gained 0.49%, while the S&P 500 gained 2.02%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. 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 full year, the Zacks Consensus Estimates project earnings of $1.99 per share and a revenue of $101.11 billion, demonstrating changes of +19.88% and +6.63%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.22% decrease. Tesla presently features a Zacks Rank of #4 (Sell).
Digging into valuation, Tesla currently has a Forward P/E ratio of 201.06. This valuation marks a premium compared to its industry average Forward P/E of 19.89.
It is also worth noting that TSLA currently has a PEG ratio of 9.55. 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 0.97 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 35% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Tesla (TSLA) Ascends While Market Falls: Some Facts to Note
In the latest trading session, Tesla (TSLA - Free Report) closed at $405.05, marking a +1.14% move from the previous day. This move outpaced the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.
Coming into today, shares of the electric car maker had lost 5.99% in the past month. In that same time, the Auto-Tires-Trucks sector gained 0.49%, while the S&P 500 gained 2.02%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. 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 full year, the Zacks Consensus Estimates project earnings of $1.99 per share and a revenue of $101.11 billion, demonstrating changes of +19.88% and +6.63%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.22% decrease. Tesla presently features a Zacks Rank of #4 (Sell).
Digging into valuation, Tesla currently has a Forward P/E ratio of 201.06. This valuation marks a premium compared to its industry average Forward P/E of 19.89.
It is also worth noting that TSLA currently has a PEG ratio of 9.55. 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 0.97 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 35% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.