Tesla stock closed down 1.64%

From Nasdaq: 2024-09-03 17:45:21

Tesla (TSLA) closed at $210.60, a -1.64% drop from the previous day. In comparison, the S&P 500 fell 2.12%, while the Dow and Nasdaq declined 1.51% and 3.26%, respectively. The Auto-Tires-Trucks sector and S&P 500 both saw gains of 5.6% and 5.78% in the past month.

Analysts predict Tesla will report earnings of $0.59 per share, a 10.61% decrease from last year’s earnings. Revenue is expected to be $25.66 billion, up 9.91% from the previous year. The Zacks Consensus Estimates expect full-year earnings to be $2.29 per share and revenue to reach $98.53 billion.

Tesla’s stock price performance is directly influenced by analyst estimates. The Zacks Rank #3 (Hold) indicates a 0.25% lower Zacks Consensus EPS estimate over the last 30 days. The company’s Forward P/E ratio of 93.53 shows a premium compared to the industry average of 13.53.

Attention should be paid to Tesla’s PEG ratio of 4.33, which considers the company’s expected earnings growth rate. The Automotive – Domestic industry had an average PEG ratio of 1.43 previously. The Auto-Tires-Trucks sector, which includes Automotive – Domestic, ranks at 148 out of 250+ industries. The top industries, rated by Zacks Industry Rank, outperform the bottom half by 2 to 1 ratio.

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Read more at Nasdaq: Tesla (TSLA) Stock Moves -1.64%: What You Should Know