Tesla, Inc. (NASDAQ:TSLA) Expected to Post Quarterly Sales of $17.29 Billion

Wall Street brokerages forecast that Tesla, Inc. (NASDAQ:TSLAGet Rating) will post $17.29 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Tesla’s earnings, with estimates ranging from $14.33 billion to $19.07 billion. Tesla posted sales of $10.39 billion in the same quarter last year, which would indicate a positive year over year growth rate of 66.4%. The company is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Tesla will report full-year sales of $82.93 billion for the current financial year, with estimates ranging from $64.37 billion to $93.30 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $110.02 billion, with estimates ranging from $81.28 billion to $134.90 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Tesla.

Tesla (NASDAQ:TSLAGet Rating) last posted its quarterly earnings data on Wednesday, January 26th. The electric vehicle producer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.37. The business had revenue of $17.72 billion during the quarter, compared to analysts’ expectations of $16.65 billion. Tesla had a net margin of 10.25% and a return on equity of 20.36%. The business’s revenue was up 65.6% on a year-over-year basis. During the same period last year, the firm posted $0.24 earnings per share.

Several research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Tesla from $750.00 to $900.00 in a research report on Tuesday, January 4th. Oppenheimer increased their price target on shares of Tesla from $1,080.00 to $1,103.00 and gave the stock an “outperform” rating in a research report on Thursday, January 27th. Wells Fargo & Company raised their price target on shares of Tesla from $860.00 to $910.00 and gave the company an “equal weight” rating in a research note on Thursday, January 27th. Barclays set a $325.00 price target on shares of Tesla in a report on Thursday, January 27th. Finally, StockNews.com initiated coverage on shares of Tesla in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $942.74.

Shares of Tesla stock traded down $37.37 during midday trading on Monday, reaching $985.00. 19,444,231 shares of the company’s stock traded hands, compared to its average volume of 25,067,900. Tesla has a 52 week low of $546.98 and a 52 week high of $1,243.49. The company’s 50 day simple moving average is $926.77 and its 200 day simple moving average is $974.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.38. The company has a market cap of $989.21 billion, a price-to-earnings ratio of 201.02, a price-to-earnings-growth ratio of 4.22 and a beta of 2.08.

In other news, CFO Zachary Kirkhorn sold 1,250 shares of the business’s stock in a transaction dated Tuesday, January 18th. The shares were sold at an average price of $1,026.75, for a total transaction of $1,283,437.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 897 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 transaction of $758,314.83. The disclosure for this sale can be found here. In the last three months, insiders sold 69,121 shares of company stock worth $62,619,390. Insiders own 25.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Paragon Capital Management Ltd bought a new position in shares of Tesla in the 4th quarter worth $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Tesla during the 3rd quarter worth $27,000. AllSquare Wealth Management LLC boosted its stake in Tesla by 766.7% in the fourth quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $31,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in Tesla in the fourth quarter worth approximately $32,000. 40.64% of the stock is currently 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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