Tesla (TSLA - Free Report) closed at $359.70 in the latest trading session, marking a +0.34% move from the prior day. This move outpaced the S&P 500's daily loss of 3.24%. Meanwhile, the Dow lost 3.1%, and the Nasdaq, a tech-heavy index, lost 3.8%.
Coming into today, shares of the electric car maker had gained 3.49% in the past month. In that same time, the Auto-Tires-Trucks sector gained 3.78%, while the S&P 500 gained 2.73%.
Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. This is expected to be February 6, 2019. The company is expected to report EPS of $2.13, up 170.07% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.01 billion, up 113.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.25 per share and revenue of $21.30 billion, which would represent changes of +85.57% and +81.14%, respectively, from the prior year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 is currently a Zacks Rank #1 (Strong Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 7% 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.