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In the last trading session, Tesla (TSLA) closed at $ 854.41, marking a movement of + 0.59% from the previous day. The stock topped the S&P 500 daily gain by 0.23%. Meanwhile, the Dow Jones lost 0.03% and the Nasdaq, a very technological index, added 0.43%.
Coming in today, shares of the electric car maker had gained 34.14% over the past month. At the same time, the Auto-Tires-Trucks sector gained 17.8%, while the S&P 500 gained 3.86%.
Wall Street will research TSLA positivity as its next results release date approaches. In this report, analysts expect TSLA to post earnings of $ 0.84 per share. This would mark an annual growth of 95.35%. Meanwhile, our latest consensus estimate projects revenue of $ 9.98 billion, up 35.13% from the previous year’s quarter.
Any recent changes to analysts’ estimates for TSLA should also be noted by investors. Recent revisions tend to reflect the latest short-term business trends. As such, the positive revisions to the estimates reflect the optimism of analysts about the business and profitability of the company.
Based on our research, we believe that these estimate revisions are directly related to the stock movements of nearby teams. To take advantage of this, we have developed the Zacks Rank, a proprietary model that takes these rating changes into account and provides an actionable rating system.
Ranging from # 1 (strong buy) to # 5 (strong sell), Zacks’ ranking system has a proven and externally audited outperformance history, with # 1 stocks averaging + 25% per year. year since 1988. Zacks Consensus EPS estimate rose 0.32% over the last month. TSLA currently has a Zacks rank of # 1 (strong buy).
Digging into the valuation, TSLA currently has a forward P / E ratio of 231.09. Its industry sports an average forward P / E of 16.24, so we could conclude that TSLA is trading at a comparatively premium.
Meanwhile, TSLA’s PEG ratio is currently 6.6. This popular measure is similar to the widely known P / E ratio, the difference being that the PEG ratio also takes into account the expected growth rate of the company’s earnings. Automotive – Domestic stocks have, on average, a PEG ratio of 2.35 based on yesterday’s closing prices.
The automotive industry – domestic is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks rank of 33, which places it in the top 13% of the 250+ industries.
The Zacks Industry Rankings include is listed in order from best to worst in terms of the average Zacks rankings of individual companies in each of these industries. Our research shows that the top 50% of industries top the bottom half by a factor of 2 to 1.
Be sure to follow all of these inventory movement metrics, and more, on Zacks.com.
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