Tesla, Inc. (NASDAQ:TSLA) Expected to Post Earnings of $1.69 Per Share

Equities analysts expect that Tesla, Inc. (NASDAQ:TSLA) will report earnings of $1.69 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Tesla’s earnings, with estimates ranging from $1.39 to $1.92. Tesla reported earnings per share of $0.80 during the same quarter last year, which indicates a positive year-over-year growth rate of 111.3%. The business is scheduled to announce its next earnings results on Wednesday, January 26th.

According to Zacks, analysts expect that Tesla will report full year earnings of $5.98 per share for the current year, with EPS estimates ranging from $5.54 to $6.45. For the next fiscal year, analysts forecast that the company will report earnings of $7.80 per share, with EPS estimates ranging from $5.94 to $10.55. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Tesla.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, October 19th. The electric vehicle producer reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.90. Tesla had a net margin of 7.40% and a return on equity of 13.81%. The company had revenue of $13.76 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter last year, the company posted $0.27 earnings per share. The firm’s quarterly revenue was up 56.8% on a year-over-year basis.

TSLA has been the topic of several analyst reports. Tudor, Pickering, Holt & Co. initiated coverage on shares of Tesla in a research note on Thursday, September 23rd. They set a “sell” rating and a $537.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of Tesla from $950.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Monday, November 8th. Zacks Investment Research upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating and set a $910.00 price target on the stock in a research note on Tuesday, September 28th. Piper Sandler raised their price objective on shares of Tesla from $1,200.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 27th. Finally, Robert W. Baird raised their price objective on shares of Tesla from $764.00 to $888.00 and gave the company an “outperform” rating in a research report on Thursday, October 21st. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has given 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 $754.40.

In related news, SVP Andrew D. Baglino sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $705.41, for a total transaction of $1,058,115.00. Following the completion of the transaction, the senior vice president now owns 18,997 shares in the company, valued at approximately $13,400,673.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Elon Musk sold 1,200,000 shares of the company’s stock in a transaction that occurred on Friday, November 12th. The shares were sold at an average price of $1,029.67, for a total transaction of $1,235,604,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,573,331 shares of company stock valued at $2,788,446,389. 25.00% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Milestone Resources Group Ltd boosted its holdings in shares of 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 acquiring an additional 14 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Tesla in the 3rd quarter valued at $27,000. Clean Yield Group purchased a new stake in shares of Tesla in the 2nd quarter valued at $31,000. Lake Point Wealth Management purchased a new stake in shares of Tesla in the 2nd quarter valued at $31,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 39.18% of the company’s stock.

TSLA stock traded up $6.97 on Thursday, hitting $1,116.00. The company had a trading volume of 22,560,238 shares, compared to its average volume of 27,910,182. Tesla has a 12-month low of $539.49 and a 12-month high of $1,243.49. The company has a current ratio of 1.39, a quick ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $940.15 and its 200 day simple moving average is $759.48. The stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 361.17, a P/E/G ratio of 6.72 and a beta of 2.00.

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

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Earnings History and Estimates for Tesla (NASDAQ:TSLA)

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