Tesla (NASDAQ:TSLA) Releases Earnings Results, Misses Expectations By $0.10 EPS

Tesla (NASDAQ:TSLA) released its earnings results on Tuesday. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10), Briefing.com reports. Tesla had a net margin of 13.00% and a return on equity of 10.68%. The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the firm posted $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $7.32 on Thursday, hitting $223.31. 60,516,649 shares of the company were exchanged, compared to its average volume of 100,936,055. Tesla has a 1-year low of $138.80 and a 1-year high of $278.98. The stock’s 50 day moving average price is $203.92 and its 200 day moving average price is $191.17. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $712.18 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 6.15 and a beta of 2.31.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday. Cantor Fitzgerald lowered Tesla from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $230.00 to $245.00 in a research note on Wednesday. Jefferies Financial Group reduced their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Finally, HSBC boosted their price target on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $201.03.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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.