Tesla, Inc. TSLA is scheduled to report first-quarter 2019 results on Apr 24. In the last reported quarter, its earnings missed the Zacks Consensus Estimate. However, revenues surpassed the same.
In the past six months, shares of Tesla have underperformed the industry it belongs to. During that period, the stock has lost 7.1% against the industry’s growth of 11.3%.
Tesla, Inc. Price and EPS Surprise
Tesla, Inc. Price and EPS Surprise | Tesla, Inc. Quote
Despite the recent decline in Model 3 production, energy generation and storage revenues for the soon-to-be-released quarter is likely to remain robust mainly due to the storage business. Tesla expects the gross margin of the energy business to grow in the quarter.
With a better supply of cells and new manufacturing equipment, the company aims to more than double energy storage deployments to more than 2 GWh in 2019. Also, it plans to ramp up the production of Solar Roof, with significantly improved manufacturing capabilities during 2019, based on the design iterations and testing underway.
Tesla currently carries a Zacks Rank #4 (Sell). Its expected long-term growth rate is 35%. Over the past month, the Zacks Consensus Estimate for current-year earnings has declined from $5.51 to $1.63.
Tesla has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few auto stocks worth considering, comprising the right combination of elements to come up with an earnings beat this time around:
Wabco Holdings Inc. WBC has an Earnings ESP of +2.37% and a Zacks Rank of 3 (Hold) at present. The company is expected to release financial results for first-quarter 2019 on Apr 26.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cummins Inc. CMI has an Earnings ESP of +2.02% and a Zacks Rank #3 at present. The company’s financial results for first-quarter 2019 are slated to release on Apr 30.
General Motors Company GM has an Earnings ESP of +5.61% and a Zacks Rank #3 at present. The company’s financial results for first-quarter 2019 are slated to release on Apr 30.
Is Your Investment Advisor Fumbling Your Financial Future?
See how you can more effectively safeguard your retirement with a new Special Report, “4 Warning Signs Your Investment Advisor Might Be Sabotaging Your Financial Future.”
Click to get it free >>
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
General Motors Company (GM) : Free Stock Analysis Report
Wabco Holdings Inc. (WBC) : Free Stock Analysis Report
Cummins Inc. (CMI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research