In the latest trading session, Tesla (TSLA - Free Report) closed at $286.05, marking a -1.08% move from the previous day. This change lagged the S&P 500's 0% on the day. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq added 0.25%.
Heading into today, shares of the electric car maker had gained 1.34% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.75% and lagging the S&P 500's gain of 2.36% in that time.
Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. On that day, TSLA is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 116.42%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.40 billion, up 87.82% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.14 per share and revenue of $28.52 billion. These totals would mark changes of +561.65% and +32.88%, respectively, from last year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 has moved 0.24% lower. TSLA currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, TSLA currently has a Forward P/E ratio of 47.1. Its industry sports an average Forward P/E of 10.59, so we one might conclude that TSLA is trading at a premium comparatively.
Meanwhile, TSLA's PEG ratio is currently 1.35. 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. The Automotive - Domestic was holding an average PEG ratio of 1.3 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.