Tesla (TSLA) to Release Quarterly Earnings on Wednesday

Tesla (NASDAQ:TSLA) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. On average, analysts expect Tesla to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Tesla Price Performance

Tesla stock opened at $220.70 on Monday. The stock has a market cap of $705.06 billion, a price-to-earnings ratio of 61.99, a PEG ratio of 6.31 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $227.67 and a 200 day simple moving average of $205.65. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TSLA shares. TD Cowen boosted their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $210.72.

About Tesla

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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.