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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know

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Tesla (TSLA - Free Report) closed at $303.15 in the latest trading session, marking a -0.65% move from the prior day. The stock lagged the S&P 500's daily loss of 0.44%. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 0.26%.

Heading into today, shares of the electric car maker had gained 1.39% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 0.35% and lagging the S&P 500's gain of 3.59% in that time.

Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. This is expected to be November 7, 2018. The company is expected to report EPS of -$0.58, up 80.14% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.76 billion, up 93.09% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.60 per share and revenue of $19.66 billion, which would represent changes of +23.79% and +67.18%, respectively, from the prior year.

Any recent changes to analyst estimates for TSLA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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, the Zacks Consensus EPS estimate has moved 5.9% lower. TSLA is currently a Zacks Rank #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 32% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.




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