-$1.77 Earnings Per Share Expected for Tesla Inc. (TSLA) This Quarter
Wall Street analysts expect Tesla Inc. (NASDAQ:TSLA) to announce ($1.77) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Tesla’s earnings. The lowest EPS estimate is ($2.26) and the highest is ($1.21). Tesla reported earnings of ($0.69) per share in the same quarter last year, which indicates a negative year over year growth rate of 156.5%. The firm is scheduled to report its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Tesla will report full-year earnings of ($7.10) per share for the current year, with EPS estimates ranging from ($8.15) to ($6.21). For the next fiscal year, analysts forecast that the business will post earnings of ($1.48) per share, with EPS estimates ranging from ($5.64) to $2.16. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Tesla.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.80%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share.
A number of brokerages recently issued reports on TSLA. Citigroup Inc. reissued a “hold” rating and issued a $371.00 price objective on shares of Tesla in a research note on Thursday. Vetr cut shares of Tesla from a “buy” rating to a “hold” rating and set a $371.10 price objective on the stock. in a research note on Wednesday, August 9th. Robert W. Baird reissued an “outperform” rating and issued a $411.00 price objective (up from $368.00) on shares of Tesla in a research note on Monday, August 14th. Royal Bank Of Canada decreased their price objective on shares of Tesla from $345.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Jefferies Group LLC cut shares of Tesla from an “in-line” rating to an “underperform” rating and decreased their price objective for the company from $312.00 to $240.00 in a research note on Friday, October 27th. Ten equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $331.40.
Shares of Tesla (NASDAQ:TSLA) traded down $32.27 during trading hours on Friday, reaching $299.26. 19,731,322 shares of the company were exchanged, compared to its average volume of 6,175,498.
In other news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $330.29, for a total value of $723,335.10. Following the transaction, the director now owns 154,419 shares of the company’s stock, valued at approximately $51,003,051.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Eric Branderiz sold 99 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The disclosure for this sale can be found here. Insiders have sold a total of 53,182 shares of company stock worth $18,113,840 over the last 90 days. 23.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TSLA. Dimensional Fund Advisors LP grew its holdings in Tesla by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 98,790 shares of the electric vehicle producer’s stock worth $27,492,000 after acquiring an additional 1,894 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Tesla by 5.0% during the 1st quarter. Nuveen Asset Management LLC now owns 19,732 shares of the electric vehicle producer’s stock valued at $5,491,000 after acquiring an additional 932 shares during the period. DnB Asset Management AS lifted its position in Tesla by 1.6% during the 2nd quarter. DnB Asset Management AS now owns 13,621 shares of the electric vehicle producer’s stock valued at $4,927,000 after acquiring an additional 210 shares during the period. Handelsbanken Fonder AB lifted its position in Tesla by 4.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,343 shares of the electric vehicle producer’s stock valued at $4,463,000 after acquiring an additional 521 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its position in Tesla by 4.0% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,750 shares of the electric vehicle producer’s stock valued at $6,780,000 after acquiring an additional 728 shares during the period. 56.45% of the stock is currently owned by institutional investors.
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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