Tesla, Inc. (NASDAQ:TSLA) Expected to Post Quarterly Sales of $14.90 Billion

Wall Street brokerages expect that Tesla, Inc. (NASDAQ:TSLA) will post sales of $14.90 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Tesla’s earnings, with the highest sales estimate coming in at $16.58 billion and the lowest estimate coming in at $13.51 billion. Tesla reported sales of $10.74 billion during the same quarter last year, which indicates a positive year over year growth rate of 38.7%. The business is expected to issue its next quarterly earnings results on Wednesday, January 26th.

According to Zacks, analysts expect that Tesla will report full year sales of $51.39 billion for the current year, with estimates ranging from $49.61 billion to $53.06 billion. For the next fiscal year, analysts anticipate that the business will report sales of $71.78 billion, with estimates ranging from $57.13 billion to $82.25 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Tesla.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, October 19th. The electric vehicle producer reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.90. The business had revenue of $13.76 billion for the quarter, compared to analyst estimates of $13.70 billion. Tesla had a return on equity of 13.81% and a net margin of 7.40%. Tesla’s quarterly revenue was up 56.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 EPS.

Several brokerages have issued reports on TSLA. Robert W. Baird lifted their price objective on Tesla from $764.00 to $888.00 and gave the company an “outperform” rating in a research report on Thursday, October 21st. Canaccord Genuity lifted their price objective on Tesla from $940.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 21st. Wells Fargo & Company boosted their target price on Tesla from $660.00 to $860.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 21st. Zacks Investment Research upgraded Tesla from a “hold” rating to a “strong-buy” rating and set a $910.00 target price for the company in a research report on Tuesday, September 28th. Finally, Needham & Company LLC restated a “sell” rating on shares of Tesla in a research report on Wednesday, October 6th. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $754.40.

In other Tesla news, SVP Andrew D. Baglino sold 1,005 shares of the firm’s stock in a transaction on Monday, September 27th. The stock was sold at an average price of $773.42, for a total value of $777,287.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Elon Musk sold 126,471 shares of the firm’s stock in a transaction on Tuesday, November 23rd. The shares were sold at an average price of $1,171.04, for a total value of $148,102,599.84. The disclosure for this sale can be found here. Insiders have sold 2,573,331 shares of company stock worth $2,788,446,389 in the last three months. 25.00% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. raised its position in Tesla by 4.0% during the 3rd quarter. First Mercantile Trust Co. now owns 6,175 shares of the electric vehicle producer’s stock worth $4,789,000 after purchasing an additional 240 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Tesla by 1.3% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,194 shares of the electric vehicle producer’s stock worth $2,477,000 after acquiring an additional 40 shares in the last quarter. Fortis Advisors LLC raised its position in shares of Tesla by 365.4% in the 3rd quarter. Fortis Advisors LLC now owns 121 shares of the electric vehicle producer’s stock worth $94,000 after acquiring an additional 95 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Tesla by 3.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 7,659 shares of the electric vehicle producer’s stock worth $5,939,000 after acquiring an additional 235 shares in the last quarter. Finally, CFS Investment Advisory Services LLC bought a new position in shares of Tesla in the 3rd quarter worth about $1,304,000. 39.18% of the stock is owned by institutional investors and hedge funds.

TSLA traded up $6.97 during trading on Friday, hitting $1,116.00. The company’s stock had a trading volume of 22,560,238 shares, compared to its average volume of 27,910,182. The firm’s 50 day moving average price is $940.15 and its two-hundred day moving average price is $759.48. The company has a quick ratio of 1.10, a current ratio of 1.39 and a debt-to-equity ratio of 0.23. Tesla has a 12 month low of $539.49 and a 12 month high of $1,243.49. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 361.17, a price-to-earnings-growth ratio of 6.72 and a beta of 2.00.

About Tesla

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 company operates through the following segments: Automotive and Energy Generation and Storage.

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