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Tesla (TSLA) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Tesla (TSLA - Free Report) closed at $209.12, marking a -1.92% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.16%.
Coming into today, shares of the electric car maker had lost 8.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.71%, while the S&P 500 gained 2.97%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.59, indicating a 10.61% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.66 billion, up 9.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.29 per share and a revenue of $98.53 billion, demonstrating changes of -26.6% and +1.82%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Tesla currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 93.14. For comparison, its industry has an average Forward P/E of 13.28, which means Tesla is trading at a premium to the group.
Investors should also note that TSLA has a PEG ratio of 4.31 right now. 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 was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Tesla (TSLA - Free Report) closed at $209.12, marking a -1.92% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.16%.
Coming into today, shares of the electric car maker had lost 8.14% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.71%, while the S&P 500 gained 2.97%.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.59, indicating a 10.61% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $25.66 billion, up 9.91% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.29 per share and a revenue of $98.53 billion, demonstrating changes of -26.6% and +1.82%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.12% lower. Tesla currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 93.14. For comparison, its industry has an average Forward P/E of 13.28, which means Tesla is trading at a premium to the group.
Investors should also note that TSLA has a PEG ratio of 4.31 right now. 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 was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.