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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Tesla (TSLA - Free Report) closed at $629.04, marking a -6.44% move from the previous day. This change lagged the S&P 500's 1.04% loss on the day.
Prior to today's trading, shares of the electric car maker had lost 1.67% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 0.23% and the S&P 500's gain of 3.83% in that time.
In that report, analysts expect TSLA to post earnings of $0.89 per share. This would mark year-over-year growth of 102.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.37 billion, up 88.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.23 per share and revenue of $49.43 billion, which would represent changes of +88.84% and +56.76%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 8.39% lower. TSLA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, TSLA is holding a Forward P/E ratio of 158.83. For comparison, its industry has an average Forward P/E of 16.39, which means TSLA is trading at a premium to the group.
Investors should also note that TSLA has a PEG ratio of 4.24 right now. 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. The Automotive - Domestic industry currently had an average PEG ratio of 1.64 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 65, putting it in the top 26% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Tesla (TSLA) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Tesla (TSLA - Free Report) closed at $629.04, marking a -6.44% move from the previous day. This change lagged the S&P 500's 1.04% loss on the day.
Prior to today's trading, shares of the electric car maker had lost 1.67% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 0.23% and the S&P 500's gain of 3.83% in that time.
In that report, analysts expect TSLA to post earnings of $0.89 per share. This would mark year-over-year growth of 102.27%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.37 billion, up 88.3% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.23 per share and revenue of $49.43 billion, which would represent changes of +88.84% and +56.76%, respectively, from the prior year.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 8.39% lower. TSLA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, TSLA is holding a Forward P/E ratio of 158.83. For comparison, its industry has an average Forward P/E of 16.39, which means TSLA is trading at a premium to the group.
Investors should also note that TSLA has a PEG ratio of 4.24 right now. 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. The Automotive - Domestic industry currently had an average PEG ratio of 1.64 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 65, putting it in the top 26% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.