The most recent trading session ended with Tesla (TSLA) standing at $454.13, reflecting a -1.76% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.04%. Meanwhile, the Dow experienced a rise of 0.07%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
Coming into today, shares of the electric car maker had gained 38.87% in the past month. In that same time, the Auto-Tires-Trucks sector gained 20.36%, while the S&P 500 gained 1.05%.
Investors will be eagerly watching for the performance of Tesla in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.77, reflecting an 8.45% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $27.95 billion, indicating a 11.06% upward 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 $100.02 billion, representing changes of -20.83% and +3.36%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Tesla. Such recent modifications usually signify the changing landscape of near-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 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 remained stagnant within the past month. Tesla is holding a Zacks Rank of #2 (Buy) right now.
In the context of valuation, Tesla is at present trading with a Forward P/E ratio of 187.32. Its industry sports an average Forward P/E of 11.65, so one might conclude that Tesla is trading at a premium comparatively.
It is also worth noting that TSLA currently has a PEG ratio of 9.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Automotive - Domestic industry held an average PEG ratio of 1.75.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 148, putting it in the bottom 42% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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