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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 $650.60, marking a -0.43% move from the previous day. This move lagged the S&P 500's daily loss of 0.33%.
Coming into today, shares of the electric car maker had gained 8.02% in the past month. In that same time, the Auto-Tires-Trucks sector lost 1.77%, while the S&P 500 gained 2.89%.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be July 26, 2021. On that day, TSLA is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 104.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.39 billion, up 88.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.30 per share and revenue of $49.28 billion, which would represent changes of +91.96% and +56.28%, respectively, from the prior year.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.06% higher within the past month. TSLA is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, TSLA currently has a Forward P/E ratio of 152.02. This represents a premium compared to its industry's average Forward P/E of 15.21.
We can also see that TSLA currently has a PEG ratio of 4.4. 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 1.23 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 36, putting it in the top 15% 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.
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 $650.60, marking a -0.43% move from the previous day. This move lagged the S&P 500's daily loss of 0.33%.
Coming into today, shares of the electric car maker had gained 8.02% in the past month. In that same time, the Auto-Tires-Trucks sector lost 1.77%, while the S&P 500 gained 2.89%.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be July 26, 2021. On that day, TSLA is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 104.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.39 billion, up 88.68% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.30 per share and revenue of $49.28 billion, which would represent changes of +91.96% and +56.28%, respectively, from the prior year.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.06% higher within the past month. TSLA is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, TSLA currently has a Forward P/E ratio of 152.02. This represents a premium compared to its industry's average Forward P/E of 15.21.
We can also see that TSLA currently has a PEG ratio of 4.4. 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 1.23 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 36, putting it in the top 15% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.