Equities research analysts predict that Tesla Inc (NASDAQ:TSLA) will announce $7.01 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Tesla’s earnings. The lowest sales estimate is $6.26 billion and the highest is $7.44 billion. Tesla reported sales of $3.29 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 113.1%. The company is expected to announce its next quarterly earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Tesla will report full year sales of $21.30 billion for the current financial year, with estimates ranging from $19.94 billion to $22.03 billion. For the next financial year, analysts forecast that the business will post 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 research firms that cover Tesla.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $5.67 billion. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%.
A number of analysts have commented on the stock. Royal Bank of Canada set a $315.00 price target on shares of Tesla and gave the stock a “neutral” rating in a research report on Monday, August 27th. ValuEngine upgraded shares of Tesla from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 20th. FIX restated a “positive” rating and set a $418.00 price target on shares of Tesla in a research report on Thursday, October 25th. Morningstar set a $179.00 price target on shares of Tesla and gave the stock a “neutral” rating in a research report on Monday, August 20th. Finally, Berenberg Bank restated a “buy” rating and set a $500.00 price target on shares of Tesla in a research report on Wednesday, August 8th. Thirteen research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $314.63.
In other news, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $348.44, for a total value of $5,226,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jerome M. Guillen sold 1,000 shares of Tesla stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the transaction, the insider now directly owns 8,598 shares in the company, valued at $2,630,988. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,375 shares of company stock worth $8,668,760. 22.80% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Keystone Financial Group grew its position in Tesla by 6.5% during the third quarter. Keystone Financial Group now owns 2,405 shares of the electric vehicle producer’s stock valued at $747,000 after purchasing an additional 147 shares in the last quarter. Summit Trail Advisors LLC grew its position in Tesla by 7.3% during the second quarter. Summit Trail Advisors LLC now owns 2,448 shares of the electric vehicle producer’s stock valued at $840,000 after purchasing an additional 166 shares in the last quarter. Accredited Investors Inc. grew its position in Tesla by 26.4% during the third quarter. Accredited Investors Inc. now owns 813 shares of the electric vehicle producer’s stock valued at $215,000 after purchasing an additional 170 shares in the last quarter. Essex Financial Services Inc. grew its position in Tesla by 5.4% during the third quarter. Essex Financial Services Inc. now owns 3,740 shares of the electric vehicle producer’s stock valued at $990,000 after purchasing an additional 191 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in Tesla by 9.1% during the second quarter. Flagship Harbor Advisors LLC now owns 2,392 shares of the electric vehicle producer’s stock valued at $820,000 after purchasing an additional 199 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
TSLA stock opened at $350.48 on Monday. Tesla has a 52 week low of $244.59 and a 52 week high of $387.46. The stock has a market cap of $60.19 billion, a price-to-earnings ratio of -30.53 and a beta of 0.48. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.81.
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.
See Also: Retained Earnings
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