$2.63 Billion in Sales Expected for Tesla Inc. (TSLA) This Quarter
Brokerages expect that Tesla Inc. (NASDAQ:TSLA) will post sales of $2.63 billion for the current quarter, according to Zacks. Six analysts have made estimates for Tesla’s earnings, with estimates ranging from $2.46 billion to $2.78 billion. Tesla posted sales of $1.56 billion during the same quarter last year, which suggests a positive year over year growth rate of 68.6%. The business is expected to issue its next quarterly earnings results on Wednesday, August 2nd.
On average, analysts expect that Tesla will report full-year sales of $2.63 billion for the current year, with estimates ranging from $10.95 billion to $12.64 billion. For the next financial year, analysts forecast that the business will post sales of $20.42 billion per share, with estimates ranging from $16.75 billion to $25.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Tesla.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, May 3rd. The electric vehicle producer reported ($1.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by $1.30. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.56 billion. Tesla had a negative return on equity of 17.13% and a negative net margin of 8.46%.
Several brokerages recently commented on TSLA. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price target on the stock in a research note on Tuesday, June 13th. Robert W. Baird reiterated an “outperform” rating and set a $368.00 price target on shares of Tesla in a research note on Tuesday, June 20th. BidaskClub downgraded shares of Tesla from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. Goldman Sachs Group, Inc. (The) set a $180.00 target price on shares of Tesla and gave the company a “sell” rating in a report on Friday, June 30th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $305.00 target price on shares of Tesla in a report on Monday, June 12th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $298.96.
In other news, Director Robyn M. Denholm sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $311.76, for a total transaction of $6,235,200.00. Following the sale, the director now owns 20,000 shares in the company, valued at approximately $6,235,200. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $315.67, for a total value of $789,175.00. Following the sale, the director now owns 168,355 shares in the company, valued at approximately $53,144,622.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,290 shares of company stock worth $74,919,505. Company insiders own 23.10% of the company’s stock.
A number of large investors have recently bought and sold shares of TSLA. Crestwood Advisors Group LLC acquired a new stake in Tesla during the first quarter worth $101,000. SRS Capital Advisors Inc. raised its position in shares of Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Tesla during the first quarter worth approximately $122,000. Pathstone Family Office LLC purchased a new position in shares of Tesla during the first quarter worth approximately $134,000. Finally, Korea Investment CORP raised its position in shares of Tesla by 225.0% in the first quarter. Korea Investment CORP now owns 494 shares of the electric vehicle producer’s stock worth $137,000 after buying an additional 342 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.
Tesla (TSLA) opened at 327.22 on Wednesday. The company has a 50-day moving average of $346.84 and a 200-day moving average of $283.13. The company’s market cap is $53.75 billion. Tesla has a 52 week low of $178.19 and a 52 week high of $386.99.
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Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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