Tesla (TSLA - Free Report) closed at $280.95 in the latest trading session, marking a +0.03% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 0.91%.
Prior to today's trading, shares of the electric car maker had lost 24.19% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 5.46% and the S&P 500's gain of 1.96% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be November 7, 2018. On that day, TSLA is projected to report earnings of -$0.58 per share, which would represent year-over-year growth of 80.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.76 billion, up 93.09% from the year-ago period.
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.
Investors might also notice recent changes to analyst estimates for TSLA. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained stagnant. TSLA is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.