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Tesla (TSLA) Outpaces Stock Market Gains: What You Should Know
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Tesla (TSLA - Free Report) closed the most recent trading day at $640.39, moving +1.61% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the electric car maker had lost 15.06% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.58%, while the S&P 500 lost 0.76%.
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 $0.75 per share, which would represent year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $9.49 billion, up 58.52% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $4.07 per share and revenue of $47.11 billion. These results would represent year-over-year changes of +81.7% and +49.4%, respectively.
Investors should also note any 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. 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 2.62% higher within the past month. TSLA is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, TSLA currently has a Forward P/E ratio of 154.89. For comparison, its industry has an average Forward P/E of 15.86, which means TSLA is trading at a premium to the group.
It is also worth noting that TSLA currently has a PEG ratio of 4.49. 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. TSLA's industry had an average PEG ratio of 2.16 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 17% 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.
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Tesla (TSLA) Outpaces Stock Market Gains: What You Should Know
Tesla (TSLA - Free Report) closed the most recent trading day at $640.39, moving +1.61% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the electric car maker had lost 15.06% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.58%, while the S&P 500 lost 0.76%.
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 $0.75 per share, which would represent year-over-year growth of 200%. Our most recent consensus estimate is calling for quarterly revenue of $9.49 billion, up 58.52% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $4.07 per share and revenue of $47.11 billion. These results would represent year-over-year changes of +81.7% and +49.4%, respectively.
Investors should also note any 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. 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 2.62% higher within the past month. TSLA is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, TSLA currently has a Forward P/E ratio of 154.89. For comparison, its industry has an average Forward P/E of 15.86, which means TSLA is trading at a premium to the group.
It is also worth noting that TSLA currently has a PEG ratio of 4.49. 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. TSLA's industry had an average PEG ratio of 2.16 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 17% 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.