In the latest trading session, Tesla (TSLA) closed at $259.75, marking a +0.72% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.3%.
Prior to today's trading, shares of the electric car maker had gained 5.35% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 1.7% and the S&P 500's loss of 0.25% in that time.
Investors will be hoping for strength from TSLA as it approaches its next earnings release, which is expected to be October 23, 2019. In that report, analysts expect TSLA to post earnings of -$0.12 per share. This would mark a year-over-year decline of 104.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.60 billion, down 3.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.09 per share and revenue of $24.82 billion. These totals would mark changes of -132.33% and +15.66%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for TSLA. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. TSLA is currently sporting a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 183, which puts it in the bottom 29% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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