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Tesla (TSLA) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest close session, Tesla (TSLA - Free Report) was down 1.57% at $372.02. The stock trailed the S&P 500, which registered a daily gain of 0.51%. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 0.48%.
Shares of the electric car maker witnessed a gain of 6.52% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its gain of 2.05%, and the S&P 500's gain of 0.74%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company's upcoming EPS is projected at $0.47, signifying a 6.00% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $27.96 billion, indicating a 0.5% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.79 per share and a revenue of $105.94 billion, signifying shifts of +7.83% and +11.72%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 past month, there's been no change in the Zacks Consensus EPS estimate. Tesla currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is presently being traded at a Forward P/E ratio of 210.92. This signifies a premium in comparison to the average Forward P/E of 16.28 for its industry.
We can additionally observe that TSLA currently boasts a PEG ratio of 9.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 0.95.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 48, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
View the Zacks #1 Rank List
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Tesla (TSLA) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest close session, Tesla (TSLA - Free Report) was down 1.57% at $372.02. The stock trailed the S&P 500, which registered a daily gain of 0.51%. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 0.48%.
Shares of the electric car maker witnessed a gain of 6.52% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its gain of 2.05%, and the S&P 500's gain of 0.74%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company's upcoming EPS is projected at $0.47, signifying a 6.00% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $27.96 billion, indicating a 0.5% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.79 per share and a revenue of $105.94 billion, signifying shifts of +7.83% and +11.72%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 past month, there's been no change in the Zacks Consensus EPS estimate. Tesla currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is presently being traded at a Forward P/E ratio of 210.92. This signifies a premium in comparison to the average Forward P/E of 16.28 for its industry.
We can additionally observe that TSLA currently boasts a PEG ratio of 9.34. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Automotive - Domestic industry had an average PEG ratio of 0.95.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 48, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.