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Tesla (TSLA) Stock Sinks As Market Gains: What You Should Know
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Tesla (TSLA - Free Report) closed the most recent trading day at $1,084.60, moving -0.95% from the previous trading session. This move lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq added 0.61%.
Coming into today, shares of the electric car maker had lost 9.79% in the past month. In that same time, the Auto-Tires-Trucks sector lost 5.12%, while the S&P 500 lost 2.09%.
Investors will be hoping for strength from Tesla as it approaches its next earnings release. In that report, analysts expect Tesla to post earnings of $1.69 per share. This would mark year-over-year growth of 111.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.9 billion, up 38.66% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $5.98 per share and revenue of $51.39 billion. These results would represent year-over-year changes of +166.96% and +62.96%, respectively.
Investors might also notice recent changes to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.44% higher. Tesla is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Tesla is holding a Forward P/E ratio of 183.17. This valuation marks a premium compared to its industry's average Forward P/E of 19.83.
It is also worth noting that TSLA currently has a PEG ratio of 4.88. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. 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 156, putting it in the bottom 39% 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.
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Tesla (TSLA) Stock Sinks As Market Gains: What You Should Know
Tesla (TSLA - Free Report) closed the most recent trading day at $1,084.60, moving -0.95% from the previous trading session. This move lagged the S&P 500's daily gain of 1.42%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq added 0.61%.
Coming into today, shares of the electric car maker had lost 9.79% in the past month. In that same time, the Auto-Tires-Trucks sector lost 5.12%, while the S&P 500 lost 2.09%.
Investors will be hoping for strength from Tesla as it approaches its next earnings release. In that report, analysts expect Tesla to post earnings of $1.69 per share. This would mark year-over-year growth of 111.25%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.9 billion, up 38.66% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $5.98 per share and revenue of $51.39 billion. These results would represent year-over-year changes of +166.96% and +62.96%, respectively.
Investors might also notice recent changes to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.44% higher. Tesla is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Tesla is holding a Forward P/E ratio of 183.17. This valuation marks a premium compared to its industry's average Forward P/E of 19.83.
It is also worth noting that TSLA currently has a PEG ratio of 4.88. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. 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 156, putting it in the bottom 39% 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.