Tesla Motors (TSLA) Releases Quarterly Earnings, Hits Estimates
Tesla Motors (NASDAQ:TSLA) released its earnings data on Wednesday. The company reported $0.12 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.12, American Banking News.com reports. The company had revenue of $713.00 million for the quarter, compared to the consensus estimate of $699.10 million. During the same quarter last year, the company posted $0.12 earnings per share. Tesla Motors’s revenue was up 26.9% compared to the same quarter last year.
In other Tesla Motors news, Director Kimbal Musk unloaded 4,811 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $206.43, for a total transaction of $993,134.73. Following the sale, the director now directly owns 170,722 shares of the company’s stock, valued at approximately $35,242,142. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on TSLA. Analysts at S&P upgraded shares of Tesla Motors from a “sell” rating to a “hold” rating in a research note on Wednesday. On the ratings front, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Tesla Motors in a research note on Thursday, May 1st. They now have a $320.00 price target on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Tesla Motors in a research note on Monday, April 21st. They now have a $238.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Tesla Motors currently has a consensus rating of “Hold” and an average target price of $210.79.
Tesla Motors (NASDAQ:TSLA) traded down 2.86% during mid-day trading on Wednesday, hitting $201.35. The stock had a trading volume of 10,065,202 shares. Tesla Motors has a 1-year low of $55.71 and a 1-year high of $265.00. The stock’s 50-day moving average is $212.5 and its 200-day moving average is $182.0. The company’s market cap is $24.805 billion. Tesla Motors also was the target of some unusual options trading on Wednesday. Stock investors purchased 98,189 call options on the company. This represents an increase of 113% compared to the average volume of 46,075 call options.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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