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Tesla (TSLA) Gains As Market Dips: What You Should Know
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Tesla (TSLA - Free Report) closed the most recent trading day at $334.85, moving +1.19% from the previous trading session. This change outpaced the S&P 500's 0.66% loss on the day. At the same time, the Dow lost 0.99%, and the tech-heavy Nasdaq lost 1.63%.
Prior to today's trading, shares of the electric car maker had gained 7.6% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 13.73% and the S&P 500's loss of 8.1% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be February 6, 2019. The company is expected to report EPS of $0.78, up 125.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.01 billion, up 113.31% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of -$4.94 per share and revenue of $20.72 billion. These results would represent year-over-year changes of +42.96% and +76.19%, respectively.
It is also important to note the recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. TSLA currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
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Tesla (TSLA) Gains As Market Dips: What You Should Know
Tesla (TSLA - Free Report) closed the most recent trading day at $334.85, moving +1.19% from the previous trading session. This change outpaced the S&P 500's 0.66% loss on the day. At the same time, the Dow lost 0.99%, and the tech-heavy Nasdaq lost 1.63%.
Prior to today's trading, shares of the electric car maker had gained 7.6% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 13.73% and the S&P 500's loss of 8.1% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be February 6, 2019. The company is expected to report EPS of $0.78, up 125.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.01 billion, up 113.31% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of -$4.94 per share and revenue of $20.72 billion. These results would represent year-over-year changes of +42.96% and +76.19%, respectively.
It is also important to note the recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. TSLA currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.