$7.01 Billion in Sales Expected for Tesla Inc (TSLA) This Quarter

Wall Street analysts predict that Tesla Inc (NASDAQ:TSLA) will announce $7.01 billion in sales for the current quarter, Zacks reports. Five analysts have made estimates for Tesla’s earnings. The highest sales estimate is $7.44 billion and the lowest is $6.26 billion. Tesla reported sales of $3.29 billion in the same quarter last year, which indicates a positive year over year growth rate of 113.1%. The business is scheduled to issue 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 year, analysts expect that the business will report sales of $28.80 billion, with estimates ranging from $25.88 billion to $31.24 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Tesla.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%.

Several research firms have recently issued reports on TSLA. Jefferies Financial Group upped their price objective on Tesla from $250.00 to $360.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 8th. Nomura reaffirmed a “neutral” rating and set a $450.00 price objective (up from $400.00) on shares of Tesla in a research report on Tuesday, September 11th. Morgan Stanley set a $291.00 price objective on Tesla and gave the stock a “neutral” rating in a research report on Monday, August 27th. JMP Securities reaffirmed a “buy” rating and set a $412.00 price objective on shares of Tesla in a research report on Thursday, October 25th. Finally, Evercore ISI set a $299.00 target price on Tesla and gave the company a “hold” rating in a research report on Thursday, October 4th. Thirteen analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $318.58.

NASDAQ:TSLA opened at $350.51 on Friday. The stock has a market cap of $58.57 billion, a PE ratio of -30.53 and a beta of 0.48. Tesla has a 1 year low of $244.59 and a 1 year high of $387.46. The company has a quick ratio of 0.37, a current ratio of 0.81 and a debt-to-equity ratio of 1.82.

In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of the 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 sale, the insider now directly owns 8,598 shares of the company’s stock, valued at approximately $2,630,988. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Elon Musk acquired 29,844 shares of the firm’s stock in a transaction on Monday, October 29th. The shares were bought at an average cost of $334.98 per share, with a total value of $9,997,143.12. The disclosure for this purchase can be found here. Insiders have sold a total of 18,875 shares of company stock valued at $6,444,610 over the last ninety days. 22.80% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of TSLA. Baillie Gifford & Co. raised its stake in shares of Tesla by 3.1% during the 2nd quarter. Baillie Gifford & Co. now owns 13,171,801 shares of the electric vehicle producer’s stock worth $4,517,269,000 after buying an additional 395,727 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Tesla by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 4,817,282 shares of the electric vehicle producer’s stock worth $1,275,472,000 after buying an additional 485,095 shares in the last quarter. ARK Investment Management LLC raised its stake in shares of Tesla by 68.2% during the 3rd quarter. ARK Investment Management LLC now owns 746,725 shares of the electric vehicle producer’s stock worth $197,710,000 after buying an additional 302,851 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Tesla by 7.5% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 581,589 shares of the electric vehicle producer’s stock worth $153,987,000 after buying an additional 40,618 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Tesla by 15.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 575,829 shares of the electric vehicle producer’s stock worth $152,462,000 after buying an additional 75,321 shares in the last quarter. 62.17% of the stock is owned by institutional investors.

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 firm operates through Automotive, and Energy Generation and Storage segments.

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