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Tesla (TSLA) Gains As Market Dips: What You Should Know

Published 11/14/2018, 05:45 AM
Updated 07/09/2023, 06:31 AM

Tesla (NASDAQ:TSLA) closed at $344 in the latest trading session, marking a +1.56% move from the prior day. This move outpaced the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.82%, and the tech-heavy Nasdaq lost 0.9%.

Coming into today, shares of the electric car maker had gained 22.47% in the past month. In that same time, the Auto-Tires-Trucks sector gained 2.63%, while the S&P 500 lost 1.41%.

Wall Street will be looking for positivity from TSLA as it approaches its next earnings report date. This is expected to be February 6, 2019. On that day, TSLA is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 159.21%. Our most recent consensus estimate is calling for quarterly revenue of $7.01 billion, up 113.13% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.10 per share and revenue of $21.30 billion. These totals would mark changes of +75.75% and +81.14%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 52.72% higher. TSLA currently has a Zacks Rank of #1 (Strong Buy).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 10, putting it in the top 4% 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.



Tesla, Inc. (TSLA): Free Stock Analysis Report

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