Wall Street brokerages predict that Tesla, Inc. ((NASDAQ:(TSLA))) will announce $11.38 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Tesla‘s earnings, with the lowest sales estimate coming in at $10.21 billion and the highest estimate coming in at $12.83 billion. Tesla reported sales of $6.04 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 88.4%. The firm is expected to report its next earnings results on Wednesday, July 28th.
According to Zacks, analysts expect that Tesla will report full-year sales of $49.39 billion for the current fiscal year, with estimates ranging from $45.86 billion to $52.69 billion. For the next year, analysts forecast that the firm will report sales of $66.43 billion, with estimates ranging from $52.29 billion to $87.03 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Tesla.
Tesla ((NASDAQ:(TSLA))) last released its earnings results on Sunday, April 25th. The electric vehicle producer reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.14. The business had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $9.89 billion. Tesla had a return on equity of 6.13% and a net margin of 3.18%. The firm’s revenue was up 73.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share.
A number of research analysts have recently issued reports on (TSLA) shares. UBS Group reduced their price objective on Tesla to $700.00 and set a “neutral” rating on the stock in a research note on Friday, May 21st. They noted that the move was a valuation call. Wells Fargo & Company started coverage on Tesla in a research note on Monday, May 24th. They set an “equal weight” rating and a $590.00 price objective on the stock. Mizuho raised their price objective on Tesla to $820.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Sanford C. Bernstein reaffirmed a “sell” rating and set a $180.00 price objective on shares of Tesla in a research note on Tuesday, March 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $700.00 price objective (down from $775.00) on shares of Tesla in a research note on Monday, March 29th. Eleven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Tesla has an average rating of “Hold” and a consensus price target of $467.86.
In related news, Director Robyn M. Denholm sold 62,500 shares of the firm’s stock in a transaction that occurred on Monday, April 26th. The shares were sold at an average price of $740.97, for a total transaction of $46,310,625.00. Following the completion of the sale, the director now owns 67,500 shares of the company’s stock, valued at $50,015,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zachary Kirkhorn sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $575.34, for a total transaction of $719,175.00. Following the sale, the chief financial officer now directly owns 54,734 shares of the company’s stock, valued at approximately $31,490,659.56. The disclosure for this sale can be found here. Insiders have sold 108,669 shares of company stock valued at $77,084,826 in the last ninety days. Insiders own 23.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in (TSLA). OLD Mission Capital LLC bought a new stake in shares of Tesla during the third quarter valued at approximately $258,000. Sage Mountain Advisors LLC bought a new stake in Tesla in the 4th quarter worth approximately $321,000. Eagle Capital Management LLC bought a new stake in Tesla in the 4th quarter worth approximately $229,000. Los Angeles Capital Management LLC grew its position in Tesla by 77.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 586,623 shares of the electric vehicle producer’s stock worth $413,962,000 after purchasing an additional 256,694 shares during the period. Finally, Cowa LLC bought a new stake in Tesla in the 4th quarter worth approximately $75,000. 41.37% of the stock is owned by institutional investors.
(TSLA) opened at $604.87 on Thursday. The company has a market capitalization of $582.69 billion, a PE ratio of 604.87, a PEG ratio of 6.24 and a beta of 1.99. The company has a current ratio of 1.66, a quick ratio of 1.38 and a debt-to-equity ratio of 0.38. Tesla has a 52 week low of $187.43 and a 52 week high of $900.40. The company has a fifty day moving average price of $647.94.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits.
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