In the latest trading session, Tesla (TSLA) closed at $276.01, marking a +0.25% move from the previous day. This move outpaced the S&P 500's daily loss of 1.03%. Elsewhere, the Dow lost 1.11%, while the tech-heavy Nasdaq lost 0.12%.
Prior to today's trading, shares of the electric car maker had lost 4.43% over the past month. This has was narrower than the Auto-Tires-Trucks sector's loss of 9.24% and the S&P 500's loss of 10.4% in that time.
Wall Street will be looking for positivity from Tesla as it approaches its next earnings report date. On that day, Tesla is projected to report earnings of $0.92 per share, which would represent year-over-year growth of 48.39%. Meanwhile, our latest consensus estimate is calling for revenue of $22.94 billion, up 66.73% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.99 per share and revenue of $85.23 billion, which would represent changes of +76.55% and +58.36%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.49% higher. Tesla is currently a Zacks Rank #3 (Hold).
In terms of valuation, Tesla is currently trading at a Forward P/E ratio of 69.03. This represents a premium compared to its industry's average Forward P/E of 10.3.
We can also see that TSLA currently has a PEG ratio of 2.21. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. TSLA's industry had an average PEG ratio of 0.76 as of yesterday's close.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
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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