Tesla, Inc. (NASDAQ:TSLA) Expected to Post Earnings of $1.26 Per Share

Analysts forecast that Tesla, Inc. (NASDAQ:TSLA) will post earnings of $1.26 per share for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Tesla’s earnings, with the highest EPS estimate coming in at $1.47 and the lowest estimate coming in at $0.95. Tesla posted earnings per share of $0.76 during the same quarter last year, which indicates a positive year-over-year growth rate of 65.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, October 20th.

According to Zacks, analysts expect that Tesla will report full-year earnings of $5.12 per share for the current year, with EPS estimates ranging from $4.63 to $5.50. For the next fiscal year, analysts anticipate that the business will report earnings of $6.93 per share, with EPS estimates ranging from $4.25 to $9.67. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Tesla.

Tesla (NASDAQ:TSLA) last posted its earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.93. Tesla had a return on equity of 9.75% and a net margin of 5.21%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.39 billion. During the same period in the previous year, the company earned $0.44 EPS.

A number of equities research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group reiterated a “buy” rating and set a $875.00 price objective (up previously from $860.00) on shares of Tesla in a research note on Tuesday, July 27th. UBS Group increased their price target on Tesla from $660.00 to $725.00 and gave the company a “neutral” rating in a research note on Thursday, August 12th. JPMorgan Chase & Co. upped their price objective on Tesla from $155.00 to $160.00 and gave the company an “underweight” rating in a report on Wednesday, July 7th. Bank of America upped their price objective on Tesla from $700.00 to $750.00 and gave the company a “neutral” rating in a report on Friday, July 16th. Finally, Roth Capital reissued a “neutral” rating on shares of Tesla in a report on Tuesday, July 27th. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $602.16.

In other news, CFO Zachary Kirkhorn sold 2,780 shares of the stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $752.90, for a total value of $2,093,062.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 896 shares of the stock in a transaction that occurred on Tuesday, September 7th. The stock was sold at an average price of $752.90, for a total transaction of $674,598.40. Following the transaction, the senior vice president now directly owns 18,420 shares of the company’s stock, valued at approximately $13,868,418. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,402 shares of company stock valued at $63,982,010. Insiders own 25.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of TSLA. Milestone Resources Group Ltd boosted its position in Tesla by 56.0% in the 2nd quarter. Milestone Resources Group Ltd now owns 39 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 14 shares during the period. Clean Yield Group purchased a new position in Tesla in the 2nd quarter valued at approximately $31,000. Lake Point Wealth Management acquired a new stake in shares of Tesla in the 2nd quarter valued at $31,000. Baldrige Asset Management LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at $33,000. Finally, Lee Financial Co raised its holdings in shares of Tesla by 53.1% in the 2nd quarter. Lee Financial Co now owns 49 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. 40.28% of the stock is owned by institutional investors.

Shares of TSLA traded up $9.21 on Tuesday, hitting $739.38. The company’s stock had a trading volume of 16,310,881 shares, compared to its average volume of 28,039,617. Tesla has a fifty-two week low of $351.30 and a fifty-two week high of $900.40. The company has a quick ratio of 1.22, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $703.86 and its 200-day moving average price is $671.42. The firm has a market capitalization of $732.00 billion, a price-to-earnings ratio of 385.10, a P/E/G ratio of 6.20 and a beta of 1.95.

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 company operates through the following segments: Automotive and Energy Generation and Storage.

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