Yahoo Finance Tesla (TSLA) Stock Moves -0.23%: What You Should Know
Tesla (TSLA) closed at $182.58 in the latest trading session, marking a -0.23% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.31%. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw a decrease of 1.09%.
Shares of the electric car maker witnessed a gain of 2.1% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 4.91% and underperforming the S&P 500's gain of 2.73%.
The investment community will be paying close attention to the earnings performance of Tesla in its upcoming release. The company is forecasted to report an EPS of $0.60, showcasing a 34.07% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $24.91 billion, indicating a 0.08% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.47 per share and a revenue of $98.56 billion, representing changes of -20.83% and +1.85%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Tesla. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 1.06% lower within the past month. At present, Tesla boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Tesla is holding a Forward P/E ratio of 74.22. For comparison, its industry has an average Forward P/E of 12.67, which means Tesla is trading at a premium to the group.
We can also see that TSLA currently has a PEG ratio of 3.43. 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 had an average PEG ratio of 1.36 as trading concluded yesterday.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 34, finds itself in the top 14% 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.
To follow TSLA in the coming trading sessions, be sure to utilize Zacks.com.
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Tesla, Inc. (TSLA) : Free Stock Analysis Report
