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Tesla (TSLA) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

In the latest trading session, Tesla (TSLA) closed at $352.70, marking a +1.11% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.29%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.44%.

Coming into today, shares of the electric car maker had lost 0.31% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.08%, while the S&P 500 gained 1.51%.

Investors will be hoping for strength from TSLA as it approaches its next earnings release. The company is expected to report EPS of $1.23, down 36.27% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.97 billion, down 3.59% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.50 per share and revenue of $24.27 billion. These totals would mark changes of +62.41% and +13.11%, respectively, from last year.

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Any recent changes to analyst estimates for TSLA should also be noted by investors. 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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. Within the past 30 days, our consensus EPS projection has moved 6.39% higher. TSLA is currently sporting a Zacks Rank of #2 (Buy).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 37% 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.

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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