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Tesla (TSLA) Gains As Market Dips: What You Should Know
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Tesla (TSLA - Free Report) ended the recent trading session at $389.79, demonstrating a +0.15% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 0.62%.
The electric car maker's stock has climbed by 21.17% in the past month, exceeding the Auto-Tires-Trucks sector's gain of 18.63% and the S&P 500's gain of 2.85%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is forecasted to report an EPS of $0.77, showcasing an 8.45% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $27.82 billion, indicating a 10.55% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.47 per share and revenue of $99.65 billion, indicating changes of -20.83% and +2.97%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Tesla presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Tesla is presently being traded at a Forward P/E ratio of 157.72. Its industry sports an average Forward P/E of 12.42, so one might conclude that Tesla is trading at a premium comparatively.
One should further note that TSLA currently holds a PEG ratio of 10.22. 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. The Automotive - Domestic industry currently had an average PEG ratio of 1.87 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 127, this industry ranks in the top 50% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 (TSLA) Gains As Market Dips: What You Should Know
Tesla (TSLA - Free Report) ended the recent trading session at $389.79, demonstrating a +0.15% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.54%, and the Nasdaq, a tech-heavy index, lost 0.62%.
The electric car maker's stock has climbed by 21.17% in the past month, exceeding the Auto-Tires-Trucks sector's gain of 18.63% and the S&P 500's gain of 2.85%.
The investment community will be closely monitoring the performance of Tesla in its forthcoming earnings report. The company is forecasted to report an EPS of $0.77, showcasing an 8.45% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $27.82 billion, indicating a 10.55% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.47 per share and revenue of $99.65 billion, indicating changes of -20.83% and +2.97%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Tesla. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Tesla presently features a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Tesla is presently being traded at a Forward P/E ratio of 157.72. Its industry sports an average Forward P/E of 12.42, so one might conclude that Tesla is trading at a premium comparatively.
One should further note that TSLA currently holds a PEG ratio of 10.22. 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. The Automotive - Domestic industry currently had an average PEG ratio of 1.87 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 127, this industry ranks in the top 50% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.