Tesla Inc (NASDAQ:TSLA) – Research analysts at Oppenheimer reduced their Q2 2018 EPS estimates for shares of Tesla in a report issued on Monday, July 30th. Oppenheimer analyst C. Rusch now forecasts that the electric vehicle producer will earn ($4.03) per share for the quarter, down from their prior estimate of ($3.80). Oppenheimer has a “Outperform” rating and a $385.00 price target on the stock. Oppenheimer also issued estimates for Tesla’s Q3 2018 earnings at ($2.80) EPS, Q4 2018 earnings at ($1.56) EPS, FY2018 earnings at ($12.56) EPS, FY2019 earnings at ($2.90) EPS, FY2020 earnings at $7.39 EPS and FY2021 earnings at $15.24 EPS.
Several other research analysts have also commented on TSLA. Vetr lowered shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $327.47 price objective for the company. in a research note on Thursday, April 5th. BidaskClub upgraded shares of Tesla from a “strong sell” rating to a “sell” rating in a research note on Friday, April 6th. Vertical Group initiated coverage on shares of Tesla in a research note on Tuesday, April 10th. They set a “sell” rating and a $84.00 price objective for the company. Goldman Sachs Group reduced their price objective on shares of Tesla from $205.00 to $195.00 and set a “sell” rating for the company in a research note on Tuesday, April 10th. Finally, Zacks Investment Research upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, April 12th. Twelve analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $310.34.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, topping the consensus estimate of ($3.61) by $0.55. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Tesla had a negative net margin of 18.77% and a negative return on equity of 40.72%. Tesla’s revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.33) EPS.
Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. purchased a new stake in Tesla during the second quarter worth $500,000. Inverness Counsel LLC NY purchased a new stake in Tesla during the second quarter worth $254,000. Jennison Associates LLC boosted its holdings in Tesla by 33.6% during the second quarter. Jennison Associates LLC now owns 4,332,187 shares of the electric vehicle producer’s stock worth $1,485,724,000 after buying an additional 1,089,377 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Tesla by 16.6% during the second quarter. CIBC Private Wealth Group LLC now owns 9,169 shares of the electric vehicle producer’s stock worth $3,145,000 after buying an additional 1,306 shares in the last quarter. Finally, Seminole Management Co. Inc. boosted its holdings in Tesla by 53.3% during the second quarter. Seminole Management Co. Inc. now owns 46,000 shares of the electric vehicle producer’s stock worth $15,776,000 after buying an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 60.87% of the company’s stock.
In other news, VP John Douglas Field sold 3,000 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $359.27, for a total value of $1,077,810.00. Following the sale, the vice president now owns 20,964 shares in the company, valued at $7,531,736.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Elon Musk acquired 55,000 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was acquired at an average price of $343.19 per share, for a total transaction of $18,875,450.00. The disclosure for this purchase can be found here. 22.80% of the stock is owned by corporate insiders.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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