U.S. markets closed
  • S&P Futures

    -11.50 (-0.34%)
  • Dow Futures

    -104.00 (-0.38%)
  • Nasdaq Futures

    -37.00 (-0.33%)
  • Russell 2000 Futures

    -6.70 (-0.44%)
  • Crude Oil

    -0.45 (-1.15%)
  • Gold

    -10.10 (-0.53%)
  • Silver

    -0.49 (-1.98%)

    -0.0008 (-0.07%)
  • 10-Yr Bond

    -0.0180 (-2.71%)
  • Vix

    +0.08 (+0.31%)

    -0.0013 (-0.10%)

    -0.0420 (-0.04%)

    -59.79 (-0.55%)
  • CMC Crypto 200

    +1.46 (+0.64%)
  • FTSE 100

    -30.43 (-0.51%)
  • Nikkei 225

    -29.33 (-0.12%)

Tesla (TSLA) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research

Tesla (TSLA) closed the most recent trading day at $441.76, moving -1.78% from the previous trading session. This change lagged the S&P 500's daily loss of 0.46%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq lost 1.25%.

Heading into today, shares of the electric car maker had gained 19.17% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 12.86% and the S&P 500's gain of 1% in that time.

TSLA will be looking to display strength as it nears its next earnings release. In that report, analysts expect TSLA to post earnings of $0.45 per share. This would mark year-over-year growth of 21.62%. Meanwhile, our latest consensus estimate is calling for revenue of $7.47 billion, up 18.54% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $1.90 per share and revenue of $28.92 billion, which would represent changes of +6233.33% and +17.68%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for TSLA. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 32.37% higher. TSLA is currently a Zacks Rank #3 (Hold).

Digging into valuation, TSLA currently has a Forward P/E ratio of 236.47. Its industry sports an average Forward P/E of 27.48, so we one might conclude that TSLA is trading at a premium comparatively.

Meanwhile, TSLA's PEG ratio is currently 6.76. 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 4.13 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 52, which puts it in the top 21% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tesla, Inc. (TSLA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research