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Tesla (TSLA) Stock Drops Despite Market Gains: Important Facts to Note
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Tesla (TSLA - Free Report) closed the most recent trading day at $184.86, moving -1.38% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the electric car maker had gained 7.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.37%, while the S&P 500 gained 3.34%.
Investors will be eagerly watching for the performance of Tesla in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.60, reflecting a 34.07% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $24.91 billion, reflecting a 0.08% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.47 per share and revenue of $98.56 billion. These totals would mark changes of -20.83% and +1.85%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Tesla. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.06% fall in the Zacks Consensus EPS estimate. At present, Tesla boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Tesla is presently trading at a Forward P/E ratio of 76.01. This indicates a premium in contrast to its industry's Forward P/E of 12.88.
Meanwhile, TSLA's PEG ratio is currently 3.52. 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.37 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Tesla (TSLA) Stock Drops Despite Market Gains: Important Facts to Note
Tesla (TSLA - Free Report) closed the most recent trading day at $184.86, moving -1.38% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.25% for the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the electric car maker had gained 7.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.37%, while the S&P 500 gained 3.34%.
Investors will be eagerly watching for the performance of Tesla in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.60, reflecting a 34.07% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $24.91 billion, reflecting a 0.08% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.47 per share and revenue of $98.56 billion. These totals would mark changes of -20.83% and +1.85%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Tesla. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 1.06% fall in the Zacks Consensus EPS estimate. At present, Tesla boasts a Zacks Rank of #3 (Hold).
Looking at valuation, Tesla is presently trading at a Forward P/E ratio of 76.01. This indicates a premium in contrast to its industry's Forward P/E of 12.88.
Meanwhile, TSLA's PEG ratio is currently 3.52. 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. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.37 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.