Tesla (TSLA) closed at $262.67 in the latest trading session, marking a -0.3% move from the prior day. This change lagged the S&P 500's 0.55% gain on the day. At the same time, the Dow added 0.52%, and the tech-heavy Nasdaq gained 0.7%.

Prior to today's trading, shares of the electric car maker had lost 29.62% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 17.9% and the S&P 500's loss of 5.56% in that time.

Investors will be eagerly watching for the performance of Tesla in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.59, reflecting a 31.11% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $24.09 billion, indicating a 13.07% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates project earnings of $2.95 per share and a revenue of $110.95 billion, demonstrating changes of +21.9% and +13.57%, respectively, from the preceding year.

Investors should also take note of any recent adjustments to analyst estimates for Tesla. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.34% upward. Right now, Tesla possesses a Zacks Rank of #3 (Hold).

Digging into valuation, Tesla currently has a Forward P/E ratio of 89.35. Its industry sports an average Forward P/E of 11.2, so one might conclude that Tesla is trading at a premium comparatively.

Meanwhile, TSLA's PEG ratio is currently 3.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Automotive - Domestic industry was having an average PEG ratio of 1.14.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 158, this industry ranks in the bottom 38% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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

This article originally published on Zacks Investment Research (zacks.com).

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