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Tesla (TSLA) Gains As Market Dips: What You Should Know
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In the latest trading session, Tesla (TSLA - Free Report) closed at $921.16, marking a +1.74% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the electric car maker had gained 5.65% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 2.24% and the S&P 500's gain of 2.67% in that time.
Investors will be hoping for strength from Tesla as it approaches its next earnings release. On that day, Tesla is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 116.13%. Meanwhile, our latest consensus estimate is calling for revenue of $16.44 billion, up 58.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.54 per share and revenue of $81.48 billion, which would represent changes of +40.71% and +51.39%, respectively, from the prior year.
Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 remained stagnant. Tesla is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 94.86. This represents a premium compared to its industry's average Forward P/E of 11.97.
Meanwhile, TSLA's PEG ratio is currently 2.44. 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 0.88 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Tesla (TSLA) Gains As Market Dips: What You Should Know
In the latest trading session, Tesla (TSLA - Free Report) closed at $921.16, marking a +1.74% move from the previous day. This move outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the electric car maker had gained 5.65% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 2.24% and the S&P 500's gain of 2.67% in that time.
Investors will be hoping for strength from Tesla as it approaches its next earnings release. On that day, Tesla is projected to report earnings of $2.01 per share, which would represent year-over-year growth of 116.13%. Meanwhile, our latest consensus estimate is calling for revenue of $16.44 billion, up 58.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.54 per share and revenue of $81.48 billion, which would represent changes of +40.71% and +51.39%, respectively, from the prior year.
Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 remained stagnant. Tesla is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 94.86. This represents a premium compared to its industry's average Forward P/E of 11.97.
Meanwhile, TSLA's PEG ratio is currently 2.44. 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 0.88 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 113, which puts it in the top 45% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.