Tesla (NASDAQ:TSLA) Releases Earnings Results, Beats Expectations By $0.14 EPS

Tesla (NASDAQ:TSLA) posted its quarterly earnings results on Wednesday. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14, Briefing.com reports. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year.

Tesla Price Performance

Shares of Tesla stock opened at $260.48 on Friday. Tesla has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $832.14 billion, a PE ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company’s 50-day moving average price is $228.54 and its two-hundred day moving average price is $206.41.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Bank of America lifted their target price on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Mizuho raised their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $218.18.

Tesla Company Profile

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.