Brokerages Expect Tesla, Inc. (NASDAQ:TSLA) Will Post Earnings of $1.69 Per Share

Equities analysts expect Tesla, Inc. (NASDAQ:TSLA) to report earnings per share of $1.69 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Tesla’s earnings, with the lowest EPS estimate coming in at $1.39 and the highest estimate coming in at $1.92. Tesla posted earnings per share of $0.80 during the same quarter last year, which would indicate a positive year over year growth rate of 111.3%. The firm is scheduled to issue its next quarterly 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 anticipate that the firm will post earnings of $7.80 per share, with EPS estimates ranging from $5.94 to $10.55. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Tesla.

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

A number of research analysts have issued reports on TSLA shares. Zacks Investment Research raised Tesla from a “hold” rating to a “strong-buy” rating and set a $910.00 target price for the company in a research note on Tuesday, September 28th. TheStreet raised Tesla from a “c+” rating to a “b” rating in a research note on Monday, August 16th. Mizuho boosted their target price on Tesla from $825.00 to $950.00 and gave the company a “buy” rating in a research note on Thursday, October 21st. Citigroup upped their price objective on Tesla from $175.00 to $209.00 and gave the stock a “sell” rating in a research report on Wednesday, July 28th. Finally, Piper Sandler upped their price objective on Tesla from $1,200.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 27th. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $754.40.

In other Tesla news, SVP Andrew D. Baglino sold 1,000 shares of Tesla stock in a transaction dated Wednesday, October 27th. The stock was sold at an average price of $1,038.18, for a total transaction of $1,038,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 1,500 shares of Tesla stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $705.41, for a total value of $1,058,115.00. Following the transaction, the senior vice president now owns 18,997 shares of the company’s stock, valued at approximately $13,400,673.77. 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. Corporate insiders own 25.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Milestone Resources Group Ltd raised 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 worth $27,000 after purchasing an additional 14 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $27,000. Clean Yield Group bought a new stake in shares of Tesla in the 2nd quarter worth approximately $31,000. Lake Point Wealth Management bought a new stake in shares of Tesla in the 2nd quarter worth approximately $31,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Tesla in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

NASDAQ:TSLA traded up $6.97 on Thursday, reaching $1,116.00. The company’s stock had a trading volume of 22,560,238 shares, compared to its average volume of 27,910,182. Tesla has a 1-year low of $539.49 and a 1-year high of $1,243.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.10 and a current ratio of 1.39. The firm has a market cap of $1.12 trillion, a PE ratio of 361.17, a PEG ratio of 6.72 and a beta of 2.00. The business’s 50-day moving average price is $940.15 and its two-hundred day moving average price is $759.48.

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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