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Tesla (TSLA) Gains But Lags Market: What You Should Know
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Tesla (TSLA - Free Report) closed at $238.82 in the latest trading session, marking a +0.1% move from the prior day. This change lagged the S&P 500's 0.63% gain on the day. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.84%.
Prior to today's trading, shares of the electric car maker had lost 10.45% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 7.71% and the S&P 500's loss of 3.37% in that time.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. In that report, analysts expect Tesla to post earnings of $0.79 per share. This would mark a year-over-year decline of 24.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.09 billion, up 16.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.47 per share and revenue of $100.14 billion. These totals would mark changes of -14.74% and +22.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.64% higher. Tesla is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Tesla is holding a Forward P/E ratio of 68.74. This represents a premium compared to its industry's average Forward P/E of 10.28.
Also, we should mention that TSLA has a PEG ratio of 3.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Automotive - Domestic stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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) Gains But Lags Market: What You Should Know
Tesla (TSLA - Free Report) closed at $238.82 in the latest trading session, marking a +0.1% move from the prior day. This change lagged the S&P 500's 0.63% gain on the day. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.84%.
Prior to today's trading, shares of the electric car maker had lost 10.45% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 7.71% and the S&P 500's loss of 3.37% in that time.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. In that report, analysts expect Tesla to post earnings of $0.79 per share. This would mark a year-over-year decline of 24.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.09 billion, up 16.97% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.47 per share and revenue of $100.14 billion. These totals would mark changes of -14.74% and +22.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Tesla. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.64% higher. Tesla is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Tesla is holding a Forward P/E ratio of 68.74. This represents a premium compared to its industry's average Forward P/E of 10.28.
Also, we should mention that TSLA has a PEG ratio of 3.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Automotive - Domestic stocks are, on average, holding a PEG ratio of 0.99 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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.