Tesla Inc (TSLA) Expected to Post Quarterly Sales of $7.01 Billion

Brokerages expect that Tesla Inc (NASDAQ:TSLA) will report sales of $7.01 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Tesla’s earnings, with the lowest sales estimate coming in at $6.26 billion and the highest estimate coming in at $7.44 billion. Tesla posted sales of $3.29 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 113.1%. The company is scheduled to announce its next quarterly earnings results on Wednesday, February 6th.

According to Zacks, analysts expect that Tesla will report full year sales of $21.30 billion for the current year, with estimates ranging from $19.94 billion to $22.03 billion. For the next year, analysts anticipate that the firm will post sales of $28.80 billion, with estimates ranging from $25.88 billion to $31.24 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Tesla.

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

Several equities research analysts have issued reports on TSLA shares. Citigroup lowered shares of Tesla from a “neutral” rating to a “sell” rating and lowered their price target for the company from $356.00 to $225.00 in a report on Friday, September 28th. Goldman Sachs Group set a $210.00 target price on shares of Tesla and gave the stock a “sell” rating in a report on Wednesday, October 3rd. Barclays set a $210.00 target price on shares of Tesla and gave the stock a “sell” rating in a report on Monday, August 27th. Sanford C. Bernstein set a $325.00 target price on shares of Tesla and gave the stock a “neutral” rating in a report on Friday, September 28th. Finally, ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Twelve research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $320.85.

Tesla stock traded down $5.10 on Monday, hitting $357.97. The company’s stock had a trading volume of 11,484,216 shares, compared to its average volume of 5,637,970. The firm has a market capitalization of $62.35 billion, a PE ratio of -31.18 and a beta of 0.59. The company has a debt-to-equity ratio of 1.82, a current ratio of 0.81 and a quick ratio of 0.47. Tesla has a one year low of $244.59 and a one year high of $387.46.

In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $306,000.00. Following the transaction, the insider now directly owns 8,598 shares in the company, valued at approximately $2,630,988. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total transaction of $573,750.00. Following the transaction, the director now owns 150,208 shares in the company, valued at $45,963,648. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,375 shares of company stock worth $9,029,040. 22.80% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in shares of Tesla by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 7,147 shares of the electric vehicle producer’s stock worth $1,902,000 after acquiring an additional 244 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in shares of Tesla in the 2nd quarter valued at approximately $308,000. Alps Advisors Inc. purchased a new position in shares of Tesla in the 2nd quarter valued at approximately $385,000. BB&T Corp purchased a new position in shares of Tesla in the 2nd quarter valued at approximately $304,000. Finally, Aperio Group LLC lifted its stake in shares of Tesla by 2.0% in the 2nd quarter. Aperio Group LLC now owns 37,146 shares of the electric vehicle producer’s stock valued at $12,739,000 after purchasing an additional 719 shares during the period. Institutional investors own 59.50% of the company’s stock.

Tesla Company Profile

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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