Yahoo Finance Tesla (TSLA) Gains But Lags Market: What You Should Know
Tesla (TSLA) closed the most recent trading day at $184.47, moving +0.86% from the previous trading session. This move lagged the S&P 500's daily gain of 0.88%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 3.76%.
Coming into today, shares of the electric car maker had gained 18.96% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.03%, while the S&P 500 lost 0.38%.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. The company is expected to report EPS of $0.83, up 9.21% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.4 billion, up 44.07% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.58 per share and revenue of $99.41 billion, which would represent changes of -12.04% and +22.03%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Tesla. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.23% lower within the past month. Tesla is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 51.13. Its industry sports an average Forward P/E of 9.65, so we one might conclude that Tesla is trading at a premium comparatively.
It is also worth noting that TSLA currently has a PEG ratio of 2.07. 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 1.14 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 48, putting it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Tesla, Inc. (TSLA) : Free Stock Analysis Report
