Tesla (TSLA) ended the most recent trading session at $194.70, as reported by Zacks. Notably, the value had stayed the same from the day before.
For reference, the S&P 500 lost 0.09% daily. Meanwhile, the tech-heavy Nasdaq gained 0.22% as the Dow fell 0.56%.
It is also worth noting that the leading American automaker’s stock had dropped 9.43% during the previous month until today. The S&P 500 increased 5.55% during that time, while the Auto-Tires-Trucks sector fell 2.55%.
However, analysts predict $1.20 per share in earnings for Tesla in its following earnings report as it aims to show off strength in the market. Therefore, TSLA’s performance would indicate an increase of 41.18% from the previous year.
Zacks Consensus Estimates for the whole year
Meanwhile, Zacks’ most recent consensus estimate predicted a $25.54 billion increase over the same quarter last year, which is up 44.16%. It also claims that experts anticipate $82.9 billion in revenue and $4.05 per share in earnings for the entire year.
Those sums represent changes of +54.03% and +79.2% from the previous year, respectively.
Possibilities
Analyst expectations for Tesla may have recently changed, which investors may also observe. These updates often consider the most recent short-term commercial trends. Positive estimate revisions can therefore indicate that the company’s business outlook is looking up.
Zacks Rank System
Zacks suggests that the near-team stock movements are the leading cause of these estimate modifications. Using the Zacks Rank, investors can profit from this. After considering these estimation revisions, this approach offers a straightforward, usable rating system.
The Zacks Rank system has an established reputation for outperformance. The system ranges from #1 (Strong Buy) to #5 (Strong Sell). Since 1988, it has had a #1 stock that has returned an average of +25% yearly. Within the previous month, the Zacks Consensus EPS estimate stayed constant. Zacks presently has Tesla ranked third (Hold).
Valuation
Tesla has a Forward P/E ratio of 48.03 at the moment. Forward P/E is 14.37 on average for its sector. Furthermore, the PEG ratio for TSLA is 1.53. This metric resembles the well-known P/E ratio. The PEG ratio differs from it in that it additionally accounts for the company’s anticipated earnings growth rate.
At yesterday’s closing price, the Automotive – Domestic had an average PEG ratio of 1.38.
The Auto-Tires-Trucks category includes the Automotive – Domestic industry. This group ranks in the top 33% of all 250+ industries, according to Zacks, with an industry rank of 81.
How Zacks estimates the competitiveness of its industry groups?
The Zacks Industry Rank uses the average Zacks Rank of the individual stocks within each industry group to assess the strength of the various groups. Zacks’ analysis revealed that the top 50% of graded industries perform two times better than the bottom 50%.
