Wall Street analysts predict that Tesla Inc (NASDAQ:TSLA) will announce sales of $8.20 billion for the current quarter, according to Zacks. Six analysts have made estimates for Tesla’s earnings, with estimates ranging from $7.12 billion to $8.69 billion.
Tesla reported sales of $6.30 billion during the same quarter last year, which would suggest a positive year over year growth rate of 30.2%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, October 21st.
According to Zacks, analysts expect that Tesla will report full year sales of $30.09 billion for the current fiscal year, with estimates ranging from $26.46 billion to $32.63 billion. For the next year, analysts forecast that the company will report sales of $42.41 billion, with estimates ranging from $35.03 billion to $56.80 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Tesla.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 22nd. The electric vehicle producer reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.91. The company had revenue of $6.04 billion for the quarter, compared to the consensus estimate of $4.96 billion. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same period in the previous year, the firm earned ($0.22) earnings per share.
Several research firms recently commented on TSLA. Cfra upgraded shares of Tesla from a “sell” rating to a “buy” rating in a research report on Friday, September 4th. Wedbush reiterated a “hold” rating on shares of Tesla in a report on Thursday, September 17th. Morgan Stanley increased their price objective on shares of Tesla from $272.00 to $333.00 and gave the company an “equal weight” rating in a research note on Friday. BofA Securities raised shares of Tesla from an “underperform” rating to a “neutral” rating in a research report on Friday, August 14th. Finally, New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $578.00 price target on the stock in a report on Thursday, October 8th. Ten equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $221.87.
Shares of Tesla stock opened at $430.83 on Tuesday. The company has a fifty day simple moving average of $422.80 and a 200-day simple moving average of $271.49. Tesla has a 12-month low of $50.04 and a 12-month high of $502.49. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. The stock has a market cap of $399.32 billion, a price-to-earnings ratio of 1,121.95, a PEG ratio of 15.47 and a beta of 1.63.
In other Tesla news, CFO Zachary Kirkhorn sold 250 shares of Tesla stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $1,677.86, for a total transaction of $419,465.00. Following the sale, the chief financial officer now directly owns 11,331 shares of the company’s stock, valued at approximately $19,011,831.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $1,456.18, for a total transaction of $5,824,720.00. Following the transaction, the senior vice president now owns 8,122 shares of the company’s stock, valued at $11,827,093.96. The disclosure for this sale can be found here. Insiders have sold 97,371 shares of company stock worth $78,407,159 in the last 90 days. Company insiders own 23.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Financial Group Inc. purchased a new stake in Tesla during the 2nd quarter valued at $25,000. City Holding Co. bought a new position in Tesla in the 3rd quarter worth $26,000. Clean Yield Group boosted its holdings in Tesla by 400.0% in the 3rd quarter. Clean Yield Group now owns 60 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 48 shares during the period. JJJ Advisors Inc. lifted its stake in Tesla by 164.0% in the 3rd quarter. JJJ Advisors Inc. now owns 64 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 164 shares in the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new stake in Tesla in the 1st quarter worth $31,000. Institutional investors own 48.22% of the company’s stock.
Tesla Company Profile
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.