Tesla (TSLA - Free Report) closed the most recent trading day at $332.80, moving -0.32% from the previous trading session. This change lagged the S&P 500's 0.85% gain on the day. At the same time, the Dow added 1.15%, and the tech-heavy Nasdaq gained 0.77%.
Coming into today, shares of the electric car maker had lost 2.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 8.48%, while the S&P 500 lost 9.35%.
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 -$0.54, up 82.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.04 billion, up 114.12% from the prior-year quarter.
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 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. 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. The Zacks Consensus EPS estimate has moved 2.29% lower within the past month. 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 24, which puts it in the top 9% 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.