In the latest trading session, Tesla (TSLA) closed at $163.57, marking a +0.66% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.65% for the day. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Heading into today, shares of the electric car maker had lost 18.93% over the past month, lagging the Auto-Tires-Trucks sector’s loss of 3.44% and the S&P 500’s gain of 3.27% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Tesla in its upcoming earnings disclosure. The company’s upcoming EPS is projected at $0.64, signifying a 24.71% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $25.4 billion, indicating an 8.89% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.06 per share and a revenue of $110.98 billion, signifying shifts of -1.92% and +14.68%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Tesla. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.91% lower. Currently, Tesla is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Tesla is currently exchanging hands at a Forward P/E ratio of 53.14. This expresses a premium compared to the average Forward P/E of 14.16 of its industry.
Meanwhile, TSLA’s PEG ratio is currently 2.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. As of the close of trade yesterday, the Automotive – Domestic industry held an average PEG ratio of 1.8.
The Automotive – Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 27% of all industries, numbering over 250.
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.
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