$18.59 Billion in Sales Expected for Tesla, Inc. (NASDAQ:TSLA) This Quarter

Wall Street brokerages expect Tesla, Inc. (NASDAQ:TSLAGet Rating) to announce $18.59 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Tesla’s earnings, with estimates ranging from $15.91 billion to $20.59 billion. Tesla posted sales of $11.96 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 55.4%. The business is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Tesla will report full year sales of $86.18 billion for the current fiscal year, with estimates ranging from $76.86 billion to $93.81 billion. For the next financial year, analysts anticipate that the company will post sales of $112.56 billion, with estimates ranging from $95.49 billion to $129.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Tesla.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings data on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $1.22. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The business had revenue of $18.76 billion during the quarter, compared to the consensus estimate of $17.84 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 80.5% compared to the same quarter last year.

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Tesla from $1,000.00 to $1,100.00 and gave the stock a “neutral” rating in a report on Monday, April 4th. Berenberg Bank began coverage on shares of Tesla in a research report on Tuesday, May 10th. They set a “hold” rating and a $900.00 target price for the company. Robert W. Baird raised their price objective on shares of Tesla from $888.00 to $1,108.00 and gave the company an “outperform” rating in a research report on Thursday, January 27th. Daiwa Capital Markets raised shares of Tesla from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $980.00 to $900.00 in a research note on Friday, February 25th. Finally, Sanford C. Bernstein raised their price objective on shares of Tesla from $300.00 to $450.00 and gave the stock an “underperform” rating in a report on Monday, February 28th. Eight equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $920.78.

Tesla stock opened at $663.90 on Monday. The firm has a market cap of $687.81 billion, a PE ratio of 90.08, a P/E/G ratio of 2.27 and a beta of 2.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.35. The firm’s 50 day moving average price is $929.01 and its two-hundred day moving average price is $963.93. Tesla has a twelve month low of $571.22 and a twelve month high of $1,243.49.

In other Tesla news, Director Robyn M. Denholm sold 24,779 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $869.34, for a total transaction of $21,541,375.86. Following the completion of the sale, the director now directly owns 49 shares of the company’s stock, valued at approximately $42,597.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Kirkhorn sold 2,389 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $845.39, for a total value of $2,019,636.71. The disclosure for this sale can be found here. Insiders sold 417,001 shares of company stock valued at $373,252,861 over the last ninety days. 25.00% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in TSLA. Wealth Alliance Advisory Group LLC acquired a new position in Tesla in the 4th quarter worth $293,000. Wealthsource Partners LLC acquired a new stake in Tesla in the 3rd quarter valued at approximately $3,065,000. Summit Trail Advisors LLC grew its stake in shares of Tesla by 1.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 14,802 shares of the electric vehicle producer’s stock worth $11,479,000 after acquiring an additional 239 shares in the last quarter. PGGM Investments acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $12,596,000. Finally, Curi Wealth Management LLC acquired a new position in Tesla during the fourth quarter worth $98,000. 40.64% of the stock is owned by institutional investors.

About Tesla (Get Rating)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits.

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