Tesla (TSLA) closed at $640.34 in the latest trading session, marking a -1.46% move from the prior day. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq gained 0.51%.
Coming into today, shares of the electric car maker had gained 24.53% in the past month. In that same time, the Auto-Tires-Trucks sector gained 13.62%, while the S&P 500 gained 4%.
Investors will be hoping for strength from TSLA as it approaches its next earnings release. On that day, TSLA is projected to report earnings of $0.80 per share, which would represent year-over-year growth of 86.05%. Meanwhile, our latest consensus estimate is calling for revenue of $9.92 billion, up 34.3% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $30.99 billion. These totals would mark changes of +7366.67% and +26.09%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for TSLA. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 5.15% higher. TSLA is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, TSLA is currently trading at a Forward P/E ratio of 289.88. This represents a premium compared to its industry's average Forward P/E of 29.34.
Meanwhile, TSLA's PEG ratio is currently 8.81. 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. TSLA's industry had an average PEG ratio of 4.44 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 23, putting it in the top 10% 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.
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, Inc. (TSLA) : Free Stock Analysis Report
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