In the latest trading session, Tesla (TSLA - Free Report) closed at $252.23, marking a -1.81% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.06%. At the same time, the Dow lost 2.13%, and the tech-heavy Nasdaq lost 1.25%.
Prior to today's trading, shares of the electric car maker had lost 11.59% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 10.57% and the S&P 500's loss of 3.01% 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. On that day, TSLA is projected to report earnings of -$0.53 per share, which would represent year-over-year growth of 81.85%. Meanwhile, our latest consensus estimate is calling for revenue of $5.67 billion, up 89.86% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.44 per share and revenue of $19.60 billion, which would represent changes of +25.64% and +66.72%, 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. TSLA currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.