Yahoo Finance Tesla (TSLA) Gains As Market Dips: What You Should Know
In the latest trading session, Tesla (TSLA) closed at $203.93, marking a +1.38% move from the previous day. This move outpaced the S&P 500's daily loss of 0.61%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq gained 10.45%.
Coming into today, shares of the electric car maker had gained 25.48% in the past month. In that same time, the Auto-Tires-Trucks sector gained 9.23%, while the S&P 500 gained 1.05%.
Investors will be hoping for strength from Tesla as it approaches its next earnings release. On that day, Tesla is projected to report earnings of $0.82 per share, which would represent year-over-year growth of 7.89%. Our most recent consensus estimate is calling for quarterly revenue of $24.4 billion, up 44.07% from the year-ago period.
TSLA's full-year Zacks Consensus Estimates are calling for earnings of $3.56 per share and revenue of $99.41 billion. These results would represent year-over-year changes of -12.53% and +22.03%, respectively.
Any recent changes to analyst estimates for Tesla should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 4.1% lower within the past month. Tesla is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 56.52. This represents a premium compared to its industry's average Forward P/E of 9.9.
Also, we should mention that TSLA has a PEG ratio of 2.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Automotive - Domestic was holding an average PEG ratio of 1.17 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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
