Tesla (TSLA) closed the most recent trading day at $ 622.58, up -1.68% from the previous trading session. This move lagged the S&P 500’s daily profit of 0.18%. At the same time, the Dow lost 0.15% and the tech-heavy Nasdaq lost 0.5%.
On the way to today, the electric vehicle manufacturer’s stock was up 43.4% over the past month, taking the Auto-Tires-Trucks sector’s profit of 22.68% and the S&P 500’s profit of 3, Exceeded 22% in that time.
Investors are hoping for strength from TSLA as it nears its next earnings release. In that report, analysts expect TSLA to make a profit of $ 0.80 per share. This would mean a year-on-year growth of 86.05%. Meanwhile, Zacks’ consensus estimate for revenue predicts net sales of $ 9.92 billion, up 34.3% from the same period a year ago.
For the full year, our consensus estimates for Zacks expect earnings of $ 2.24 per share and revenue of $ 30.99 billion, which would represent + 7366.67% and + 26.09% change from previous year.
Any recent changes in analyst estimates for TSLA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can often change. As such, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Our research shows that these changes in estimates are directly correlated with short-term stock prices. To take advantage of this, we’ve developed the Zacks Rank, a proprietary model that takes these estimation changes into account and provides an action-oriented grading system.
Ranging from No. 1 (strong buy) to No. 5 (strong sell), the Zacks Rank system has a proven, externally audited track record of outperformance, with No. 1 shares averaging + 25% year-on-year since 1988 returned. month, Zacks Consensus earnings per share estimate is up 5.42%. TSLA currently has a Zacks Rank of # 3 (Hold).
In terms of valuation, TSLA is currently trading at a forward P / E ratio of 282.36. In comparison, the industry has an average Forward P / E of 28.63, which means that TSLA is trading at a premium for the group.
We can also see that TSLA currently has a PEG ratio of 8.58. This statistic is used in the same way as the known P / E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth. Automotive – Domestic had an average PEG ratio of 4.31 at yesterday’s closing price.
The Automotive – Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 32, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank measures the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the 50% top rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information about all of these statistics, and much more, at Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report
Tesla, Inc. (TSLA): Free stock analysis report
Click here to read this article on Zacks.com.