Tesla (TSLA - Free Report) closed the most recent trading day at $288.96, moving +1.98% from the previous trading session. This change outpaced the S&P 500's 0.7% gain on the day. Meanwhile, the Dow gained 0.58%, and the Nasdaq, a tech-heavy index, added 0.69%.
Heading into today, shares of the electric car maker had lost 9.12% over the past month, lagging the Auto-Tires-Trucks sector's loss of 0.43% and the S&P 500's gain of 1.95% in that time.
TSLA will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.78, up 123.28% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.43 billion, up 88.7% from the prior-year quarter.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $6.05 per share and revenue of $28.65 billion. These results would represent year-over-year changes of +554.89% and +33.52%, respectively.
Investors might also notice recent changes to analyst estimates for TSLA. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 13.62% lower within the past month. TSLA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 46.85. Its industry sports an average Forward P/E of 10.53, so we one might conclude that TSLA is trading at a premium comparatively.
Investors should also note that TSLA has a PEG ratio of 1.34 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 22, 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.