Yahoo Finance Tesla (TSLA) Gains As Market Dips: What You Should Know
In the latest trading session, Tesla (TSLA) closed at $791.94, marking a +0.82% move from the previous day. This move outpaced the S&P 500's daily loss of 0.69%.
Heading into today, shares of the electric car maker had gained 6.68% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.2% and the S&P 500's loss of 2.58% in that time.
Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. This is expected to be October 20, 2021. The company is expected to report EPS of $1.28, up 68.42% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.16 billion, up 50.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.32 per share and revenue of $51.29 billion. These totals would mark changes of +137.5% and +62.63%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for TSLA. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.41% higher. TSLA is holding a Zacks Rank of #1 (Strong Buy) right now.
Investors should also note TSLA's current valuation metrics, including its Forward P/E ratio of 147.7. This valuation marks a premium compared to its industry's average Forward P/E of 15.21.
Meanwhile, TSLA's PEG ratio is currently 3.94. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Domestic was holding an average PEG ratio of 1.26 at yesterday's closing price.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 198, putting it in the bottom 23% 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.
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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