Equities analysts expect that Tesla Inc (NASDAQ:TSLA) will report $7.01 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Tesla’s earnings, with estimates ranging from $6.26 billion to $7.44 billion. Tesla posted sales of $3.29 billion during the same quarter last year, which suggests a positive year over year growth rate of 113.1%. The business is scheduled to issue its next earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Tesla will report full-year sales of $21.30 billion for the current fiscal year, with estimates ranging from $19.94 billion to $22.03 billion. For the next financial year, analysts expect that the firm will report sales of $28.80 billion, with estimates ranging from $25.88 billion to $31.24 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Tesla.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of ($1.77) by $4.67. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $5.67 billion.
A number of research firms have recently commented on TSLA. FIX restated a “positive” rating and issued a $418.00 price objective on shares of Tesla in a research report on Thursday, October 25th. TheStreet upgraded shares of Tesla from a “d+” rating to a “c” rating in a research report on Wednesday. Royal Bank of Canada restated a “neutral” rating and issued a $325.00 price objective on shares of Tesla in a research report on Thursday, October 25th. Wolfe Research upgraded shares of Tesla from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 25th. Finally, Macquarie restated a “buy” rating and issued a $430.00 price objective on shares of Tesla in a research report on Thursday. Thirteen investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $318.58.
TSLA stock opened at $350.51 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.81 and a quick ratio of 0.37. Tesla has a 12 month low of $244.59 and a 12 month high of $387.46. The company has a market capitalization of $58.57 billion, a PE ratio of -30.53 and a beta of 0.48.
In other Tesla news, Director Kimbal Musk sold 1,875 shares of Tesla stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $573,750.00. Following the transaction, the director now directly owns 150,208 shares of the company’s stock, valued at $45,963,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $348.44, for a total transaction of $5,226,600.00. The disclosure for this sale can be found here. Insiders have sold 18,875 shares of company stock worth $6,444,610 over the last three months. Insiders own 22.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of TSLA. Principal Financial Group Inc. raised its holdings in Tesla by 3.5% during the first quarter. Principal Financial Group Inc. now owns 7,147 shares of the electric vehicle producer’s stock worth $1,902,000 after purchasing an additional 244 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Tesla by 9.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,231 shares of the electric vehicle producer’s stock valued at $766,000 after buying an additional 200 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Tesla by 22.8% in the second quarter. State of Alaska Department of Revenue now owns 19,290 shares of the electric vehicle producer’s stock valued at $6,615,000 after buying an additional 3,586 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Tesla in the second quarter valued at $234,000. Finally, Baillie Gifford & Co. increased its holdings in shares of Tesla by 3.1% in the second quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock valued at $4,517,269,000 after buying an additional 395,727 shares in the last quarter. 62.17% of the stock is currently owned by hedge funds and other institutional investors.
Tesla Company Profile
Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.
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