In the latest trading session, Tesla (TSLA - Free Report) closed at $427.53, marking a -0.03% move from the previous day. This change was narrower than the S&P 500's 4.34% loss on the day. Meanwhile, the Dow lost 4.55%, and the Nasdaq, a tech-heavy index, lost 3.79%.
Prior to today's trading, shares of the electric car maker had lost 52.45% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 35.11% and the S&P 500's loss of 28.78% 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 $0.78 per share, which would represent year-over-year growth of 126.9%. Our most recent consensus estimate is calling for quarterly revenue of $6.42 billion, up 41.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.90 per share and revenue of $31.75 billion, which would represent changes of +5976.92% and +29.18%, respectively, from the prior year.
Any recent changes to analyst estimates for TSLA should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate has moved 8.38% lower within the past month. TSLA is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note TSLA's current valuation metrics, including its Forward P/E ratio of 54.15. This valuation marks a premium compared to its industry's average Forward P/E of 7.58.
Meanwhile, TSLA's PEG ratio is currently 1.48. 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 1.22 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% 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.