Tesla Inc (TSLA) Expected to Announce Quarterly Sales of $3.29 Billion
Wall Street brokerages predict that Tesla Inc (NASDAQ:TSLA) will post sales of $3.29 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Tesla’s earnings. The highest sales estimate is $3.52 billion and the lowest is $2.87 billion. Tesla reported sales of $2.28 billion in the same quarter last year, which would indicate a positive year over year growth rate of 44.3%. The firm is expected to report its next earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Tesla will report full year sales of $3.29 billion for the current financial year, with estimates ranging from $11.34 billion to $11.99 billion. For the next year, analysts anticipate that the firm will report sales of $19.20 billion per share, with estimates ranging from $15.72 billion to $24.20 billion. Zacks Investment Research’s 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 quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share.
In other news, VP Eric Branderiz sold 1,736 shares of Tesla stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the transaction, the vice president now owns 1,736 shares of the company’s stock, valued at approximately $589,354.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John Douglas Field sold 1,000 shares of Tesla stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $334.87, for a total value of $334,870.00. Following the completion of the transaction, the vice president now directly owns 20,128 shares of the company’s stock, valued at approximately $6,740,263.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,692 shares of company stock valued at $5,026,873. 23.10% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Private Capital Advisors Inc. purchased a new position in shares of Tesla in the 4th quarter worth about $318,000. Appleton Partners Inc. MA purchased a new position in shares of Tesla in the 4th quarter worth about $274,000. Daiwa SB Investments Ltd. raised its position in shares of Tesla by 41.3% in the 4th quarter. Daiwa SB Investments Ltd. now owns 1,766 shares of the electric vehicle producer’s stock worth $550,000 after purchasing an additional 516 shares during the last quarter. DnB Asset Management AS raised its position in shares of Tesla by 5.3% in the 4th quarter. DnB Asset Management AS now owns 13,820 shares of the electric vehicle producer’s stock worth $4,303,000 after purchasing an additional 699 shares during the last quarter. Finally, Atlantic Trust Group LLC bought a new stake in Tesla in the 3rd quarter worth about $3,083,000. 57.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Tesla (TSLA) opened at $336.22 on Monday. The firm has a market cap of $56,510.00, a price-to-earnings ratio of -39.28 and a beta of 0.94. Tesla has a fifty-two week low of $229.59 and a fifty-two week high of $389.61. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.
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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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