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Tesla (TSLA) Increases Yet Falls Behind Market: What Investors Need to Know
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The latest trading session saw Tesla (TSLA - Free Report) ending at $240.45, denoting a +1.25% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.
Coming into today, shares of the electric car maker had lost 2.6% in the past month. In that same time, the Auto-Tires-Trucks sector gained 0.15%, while the S&P 500 gained 2.9%.
The investment community will be paying close attention to the earnings performance of Tesla in its upcoming release. The company is slated to reveal its earnings on January 24, 2024. The company is predicted to post an EPS of $0.74, indicating a 37.82% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $25.95 billion, up 6.7% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.27% higher within the past month. As of now, Tesla holds a Zacks Rank of #3 (Hold).
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 62.13. This represents a premium compared to its industry's average Forward P/E of 11.32.
We can also see that TSLA currently has a PEG ratio of 3.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.26 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Tesla (TSLA) Increases Yet Falls Behind Market: What Investors Need to Know
The latest trading session saw Tesla (TSLA - Free Report) ending at $240.45, denoting a +1.25% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.41%. On the other hand, the Dow registered a gain of 0.58%, and the technology-centric Nasdaq increased by 2.2%.
Coming into today, shares of the electric car maker had lost 2.6% in the past month. In that same time, the Auto-Tires-Trucks sector gained 0.15%, while the S&P 500 gained 2.9%.
The investment community will be paying close attention to the earnings performance of Tesla in its upcoming release. The company is slated to reveal its earnings on January 24, 2024. The company is predicted to post an EPS of $0.74, indicating a 37.82% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $25.95 billion, up 6.7% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Tesla. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.27% higher within the past month. As of now, Tesla holds a Zacks Rank of #3 (Hold).
Investors should also note Tesla's current valuation metrics, including its Forward P/E ratio of 62.13. This represents a premium compared to its industry's average Forward P/E of 11.32.
We can also see that TSLA currently has a PEG ratio of 3.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Automotive - Domestic stocks are, on average, holding a PEG ratio of 1.26 based on yesterday's closing prices.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.