Tesla (TSLA - Free Report) closed at $418.33 in the latest trading session, marking a +0.88% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.3%.
Coming into today, shares of the electric car maker had gained 23.84% in the past month. In that same time, the Auto-Tires-Trucks sector gained 3.14%, while the S&P 500 gained 2.69%.
Investors will be hoping for strength from TSLA as it approaches its next earnings release. On that day, TSLA is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 107.25%. Our most recent consensus estimate is calling for quarterly revenue of $6.97 billion, down 3.59% from the year-ago period.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 1.13% higher within the past month. TSLA is currently a Zacks Rank #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 32% 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.