In the latest trading session, Tesla (TSLA - Free Report) closed at $273.19, marking a -0.65% move from the previous day. This move lagged the S&P 500's daily gain of 0.11%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, added 0.19%.
Heading into today, shares of the electric car maker had lost 0.59% over the past month, lagging the Auto-Tires-Trucks sector's gain of 1.61% and the S&P 500's gain of 3.84% in that time.
TSLA will be looking to display strength as it nears its next earnings release. On that day, TSLA is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 117.31%. Our most recent consensus estimate is calling for quarterly revenue of $6.23 billion, up 82.86% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $5.56 per share and revenue of $28.09 billion. These results would represent year-over-year changes of +518.05% and +30.89%, respectively.
Investors might also notice recent changes to analyst estimates for TSLA. These recent revisions tend to reflect the evolving nature of short-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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% lower. TSLA currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that TSLA has a Forward P/E ratio of 49.45 right now. This valuation marks a premium compared to its industry's average Forward P/E of 10.75.
Investors should also note that TSLA has a PEG ratio of 1.41 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic was holding an average PEG ratio of 1.34 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 80, which puts it in the top 32% 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.
To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com.