Tesla (TSLA - Free Report) closed the most recent trading day at $289.46, moving -0.35% from the previous trading session. This change lagged the S&P 500's 0.53% gain on the day. Elsewhere, the Dow gained 0.57%, while the tech-heavy Nasdaq added 0.75%.
Coming into today, shares of the electric car maker had lost 14.22% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.79%, while the S&P 500 gained 2.16%.
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 -$0.68 per share, which would represent year-over-year growth of 76.71%. Our most recent consensus estimate is calling for quarterly revenue of $5.55 billion, up 85.88% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$6.60 per share and revenue of $19.48 billion. These totals would mark changes of +23.79% and +65.66%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for TSLA. 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team 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 past month, the Zacks Consensus EPS estimate remained stagnant. TSLA is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 103, putting it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.