Zacks: Analysts Anticipate Tesla, Inc. (NASDAQ:TSLA) Will Post Quarterly Sales of $17.29 Billion

Equities research analysts expect that Tesla, Inc. (NASDAQ:TSLA – Get Rating) will announce $17.29 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Tesla’s earnings, with the lowest sales estimate coming in at $14.33 billion and the highest estimate coming in at $19.07 billion. Tesla reported sales of $10.39 billion during the same quarter last year, which would suggest a positive year over year growth rate of 66.4%. The firm is expected to announce its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Tesla will report full-year sales of $82.93 billion for the current financial year, with estimates ranging from $64.37 billion to $93.30 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $110.02 billion, with estimates ranging from $81.28 billion to $134.90 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Tesla.

Tesla (NASDAQ:TSLA – Get Rating) last posted its earnings results on Wednesday, January 26th. The electric vehicle producer reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.37. The company had revenue of $17.72 billion for the quarter, compared to analyst estimates of $16.65 billion. Tesla had a net margin of 10.25% and a return on equity of 20.36%. The business’s revenue for the quarter was up 65.6% compared to the same quarter last year. During the same period last year, the business posted $0.24 earnings per share.

TSLA has been the subject of several research analyst reports. Mizuho lifted their target price on shares of Tesla from $950.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, January 5th. Citigroup upped their price objective on shares of Tesla from $262.00 to $313.00 and gave the stock a “sell” rating in a research report on Thursday, January 27th. Canaccord Genuity Group boosted their target price on shares of Tesla from $1,040.00 to $1,200.00 in a report on Friday, January 28th. Credit Suisse Group raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $1,025.00 price objective on the stock in a research note on Monday, January 31st. Finally, TheStreet downgraded shares of Tesla from a “b” rating to a “c+” rating in a research report on Monday, December 20th. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $942.74.

Tesla stock traded down $37.37 during mid-day trading on Monday, reaching $985.00. The company’s stock had a trading volume of 19,444,231 shares, compared to its average volume of 25,067,900. The business’s 50 day simple moving average is $926.77 and its 200 day simple moving average is $974.20. Tesla has a 12 month low of $546.98 and a 12 month high of $1,243.49. The company has a market capitalization of $989.21 billion, a price-to-earnings ratio of 201.02, a price-to-earnings-growth ratio of 4.22 and a beta of 2.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.38.

In other Tesla news, SVP Andrew D. Baglino sold 3,500 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $1,065.00, for a total value of $3,727,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Vaibhav Taneja sold 1,300 shares of the company’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $1,141.94, for a total transaction of $1,484,522.00. The disclosure for this sale can be found here. Insiders have sold a total of 69,121 shares of company stock worth $62,619,390 over the last 90 days. Insiders own 25.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in shares of Tesla by 104.5% in the 3rd quarter. SG Americas Securities LLC now owns 362,759 shares of the electric vehicle producer’s stock valued at $281,312,000 after purchasing an additional 8,423,727 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla in the 4th quarter valued at $7,918,804,000. BlackRock Inc. boosted its holdings in shares of Tesla by 4.7% in the 3rd quarter. BlackRock Inc. now owns 52,829,488 shares of the electric vehicle producer’s stock valued at $40,968,213,000 after purchasing an additional 2,377,179 shares during the last quarter. Banque Pictet & Cie SA boosted its holdings in shares of Tesla by 38,084.4% in the 4th quarter. Banque Pictet & Cie SA now owns 1,494,920 shares of the electric vehicle producer’s stock valued at $1,579,802,000 after purchasing an additional 1,491,005 shares during the last quarter. Finally, Clear Street LLC acquired a new position in shares of Tesla in the 4th quarter valued at $1,447,578,000. Institutional investors and hedge funds own 40.64% of the company’s stock.

About Tesla (Get Rating)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits.

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