Tesla (TSLA - Free Report) closed the most recent trading day at $634.23, moving -1.72% from the previous trading session. This change was narrower than the S&P 500's daily loss of 4.89%. Elsewhere, the Dow lost 5.86%, while the tech-heavy Nasdaq lost 4.7%.
Heading into today, shares of the electric car maker had lost 16.67% over the past month, lagging the Auto-Tires-Trucks sector's loss of 14.91% and the S&P 500's loss of 13.88% 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 $0.76, up 126.21% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $6.42 billion, up 41.29% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.04 per share and revenue of $32.09 billion. These totals would mark changes of +6084.62% and +30.58%, respectively, from last year.
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 29.68% lower. TSLA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, TSLA currently has a Forward P/E ratio of 80.22. This represents a premium compared to its industry's average Forward P/E of 11.34.
Meanwhile, TSLA's PEG ratio is currently 2.01. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.28 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 92, which puts it in the top 37% 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.
To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com.