Wall Street analysts expect Tesla Inc (NASDAQ:TSLA) to announce $5.55 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Tesla’s earnings, with estimates ranging from $4.74 billion to $6.28 billion. Tesla reported sales of $2.98 billion during the same quarter last year, which indicates a positive year over year growth rate of 86.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that Tesla will report full-year sales of $19.48 billion for the current fiscal year, with estimates ranging from $17.51 billion to $22.03 billion. For the next financial year, analysts forecast that the business will report sales of $26.33 billion per share, with estimates ranging from $21.58 billion to $30.85 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that that provide coverage for Tesla.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.61) by $0.55. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.33) earnings per share.

Several research firms have weighed in on TSLA. KeyCorp set a $300.00 price objective on shares of Tesla and gave the stock a “hold” rating in a research report on Tuesday, July 3rd. Goldman Sachs Group reiterated a “sell” rating on shares of Tesla in a research report on Sunday, July 8th. ValuEngine upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Royal Bank of Canada lifted their price objective on shares of Tesla to $315.00 and gave the stock a “positive” rating in a research report on Thursday, August 2nd. Finally, Barclays set a $210.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research report on Monday, August 27th. Fourteen analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $312.54.

Tesla stock traded down $9.88 during mid-day trading on Thursday, hitting $284.96. The company’s stock had a trading volume of 16,499,500 shares, compared to its average volume of 8,421,076. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.73. The firm has a market cap of $50.36 billion, a price-to-earnings ratio of -24.74 and a beta of 0.87. Tesla has a twelve month low of $244.59 and a twelve month high of $387.46.

In other news, Director Kimbal Musk sold 1,875 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $358.26, for a total transaction of $671,737.50. Following the transaction, the director now owns 150,208 shares in the company, valued at approximately $53,813,518.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 22.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Comerica Bank increased its stake in Tesla by 5.7% in the first quarter. Comerica Bank now owns 6,282 shares of the electric vehicle producer’s stock valued at $1,885,000 after acquiring an additional 341 shares during the period. Prudential Financial Inc. increased its stake in Tesla by 3.0% in the first quarter. Prudential Financial Inc. now owns 8,341 shares of the electric vehicle producer’s stock valued at $2,220,000 after acquiring an additional 240 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Tesla by 30.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,672 shares of the electric vehicle producer’s stock valued at $977,000 after acquiring an additional 853 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Tesla by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 260,957 shares of the electric vehicle producer’s stock valued at $69,449,000 after buying an additional 11,736 shares in the last quarter. Finally, ETRADE Capital Management LLC boosted its position in Tesla by 44.1% in the first quarter. ETRADE Capital Management LLC now owns 1,461 shares of the electric vehicle producer’s stock valued at $389,000 after buying an additional 447 shares in the last quarter. 61.99% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, 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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