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

Tesla (NASDAQ:TSLA) announced its quarterly earnings data on Wednesday. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year.

Tesla Price Performance

NASDAQ TSLA traded up $46.83 during trading on Thursday, reaching $260.48. 203,681,145 shares of the company traded hands, compared to its average volume of 94,351,078. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock’s 50 day moving average price is $228.54 and its two-hundred day moving average price is $206.41. The company has a market cap of $832.14 billion, a price-to-earnings ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla has a 1-year low of $138.80 and a 1-year high of $271.00.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Mkm reiterated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group raised their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Mizuho raised their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $218.18.

Insider Buying and Selling at Tesla

In other Tesla 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 of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

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.