Analysts Expect Tesla Inc (NASDAQ:TSLA) Will Post Quarterly Sales of $6.61 Billion
Equities research analysts forecast that Tesla Inc (NASDAQ:TSLA) will announce sales of $6.61 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Tesla’s earnings, with the highest sales estimate coming in at $7.07 billion and the lowest estimate coming in at $6.05 billion. Tesla posted sales of $6.82 billion in the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The company is expected to announce its next earnings report on Wednesday, October 23rd.
On average, analysts expect that Tesla will report full-year sales of $24.83 billion for the current fiscal year, with estimates ranging from $23.57 billion to $27.95 billion. For the next year, analysts expect that the business will report sales of $30.75 billion, with estimates ranging from $28.73 billion to $37.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Tesla.
Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) EPS for the quarter, missing the consensus estimate of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.42% and a negative net margin of 2.64%. The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the firm earned ($3.06) earnings per share. Tesla’s quarterly revenue was up 58.7% on a year-over-year basis.
Shares of Tesla stock traded up $6.89 on Monday, hitting $226.83. The company’s stock had a trading volume of 5,307,870 shares, compared to its average volume of 9,587,897. Tesla has a 52-week low of $176.99 and a 52-week high of $379.49. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71. The firm has a fifty day moving average price of $236.94 and a 200-day moving average price of $251.49. The company has a market capitalization of $38.63 billion, a P/E ratio of -39.66 and a beta of 0.60.
In related news, Director Kathleen Wilson-Thompson acquired 360 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $221.71 per share, with a total value of $79,815.60. Following the purchase, the director now directly owns 360 shares in the company, valued at approximately $79,815.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey B. Straubel sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $189.89, for a total transaction of $2,848,350.00. Following the transaction, the insider now directly owns 321,398 shares of the company’s stock, valued at approximately $61,030,266.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,916 shares of company stock valued at $15,785,800. Corporate insiders own 24.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd increased its position in Tesla by 6.2% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 6,416 shares of the electric vehicle producer’s stock worth $1,434,000 after purchasing an additional 373 shares in the last quarter. Primecap Management Co. CA increased its position in Tesla by 67.2% during the 2nd quarter. Primecap Management Co. CA now owns 1,526,940 shares of the electric vehicle producer’s stock worth $341,210,000 after purchasing an additional 613,525 shares in the last quarter. Steadfast Capital Management LP acquired a new stake in Tesla during the 2nd quarter worth approximately $55,536,000. Stamos Capital Partners L.P. increased its position in Tesla by 62.0% during the 2nd quarter. Stamos Capital Partners L.P. now owns 4,200 shares of the electric vehicle producer’s stock worth $954,000 after purchasing an additional 1,608 shares in the last quarter. Finally, HM Payson & Co. acquired a new stake in Tesla during the 2nd quarter worth approximately $30,000. 54.40% of the stock is owned by institutional investors.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, 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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