$3.44 Billion in Sales Expected for Tesla Inc. (TSLA) This Quarter

Equities analysts expect Tesla Inc. (NASDAQ:TSLA) to report $3.44 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Tesla’s earnings. The lowest sales estimate is $3.16 billion and the highest is $3.75 billion. Tesla reported sales of $2.28 billion in the same quarter last year, which would suggest a positive year over year growth rate of 50.9%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Tesla will report full-year sales of $3.44 billion for the current year, with estimates ranging from $10.81 billion to $12.22 billion. For the next year, analysts expect that the firm will post sales of $19.18 billion per share, with estimates ranging from $15.72 billion to $24.20 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 announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 29.9% on a year-over-year basis.

TSLA has been the topic of a number of recent research reports. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a “neutral” rating in a research note on Thursday, July 27th. Vetr raised Tesla from a “buy” rating to a “strong-buy” rating and set a $374.78 price target on the stock in a research note on Thursday, July 27th. Goldman Sachs Group Inc reaffirmed a “sell” rating and issued a $180.00 price objective (down from $190.00) on shares of Tesla in a research note on Monday, July 31st. Berenberg Bank reaffirmed a “buy” rating on shares of Tesla in a research note on Thursday, August 3rd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $386.00 price objective on shares of Tesla in a research note on Thursday, August 3rd. Ten analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $329.87.

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Shares of Tesla (NASDAQ TSLA) opened at $312.60 on Friday. Tesla has a 12 month low of $180.00 and a 12 month high of $389.61. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66.

In other Tesla news, VP Eric Branderiz sold 99 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $355.20, for a total value of $777,888.00. Following the completion of the transaction, the director now directly owns 158,584 shares in the company, valued at $56,329,036.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,741 shares of company stock worth $3,579,311. Insiders own 23.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can increased its holdings in shares of Tesla by 2.7% during the second quarter. Great West Life Assurance Co. Can now owns 69,562 shares of the electric vehicle producer’s stock valued at $25,129,000 after acquiring an additional 1,802 shares in the last quarter. CIBC World Markets Inc. increased its holdings in shares of Tesla by 74.2% during the second quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after acquiring an additional 4,504 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Tesla during the second quarter valued at approximately $681,000. Arrow Financial Corp increased its holdings in shares of Tesla by 13.7% during the third quarter. Arrow Financial Corp now owns 9,338 shares of the electric vehicle producer’s stock valued at $3,186,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Tesla by 2.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,569 shares of the electric vehicle producer’s stock valued at $13,156,000 after acquiring an additional 784 shares in the last quarter. 55.71% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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