Research Analysts Set Expectations for Tesla Inc.’s Q3 2017 Earnings (TSLA)

Tesla Inc. (NASDAQ:TSLA) – Stock analysts at Oppenheimer Holdings dropped their Q3 2017 earnings per share estimates for Tesla in a research report issued on Monday. Oppenheimer Holdings analyst C. Rusch now anticipates that the electric vehicle producer will post earnings per share of ($3.09) for the quarter, down from their previous forecast of ($2.00). Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Tesla’s Q4 2017 earnings at ($2.46) EPS and FY2017 earnings at ($9.53) EPS.

A number of other brokerages have also commented on TSLA. Sanford C. Bernstein set a $265.00 price objective on Tesla and gave the company a “neutral” rating in a report on Wednesday, September 20th. Citigroup Inc. initiated coverage on Tesla in a research report on Thursday, July 20th. They set a “neutral” rating and a $357.00 target price for the company. Berenberg Bank reiterated a “buy” rating on shares of Tesla in a research report on Thursday, August 3rd. Vetr upgraded Tesla from a “hold” rating to a “buy” rating and set a $372.51 target price for the company in a research report on Thursday, August 10th. Finally, Jefferies Group LLC initiated coverage on Tesla in a research report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 target price for the company. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $327.37.

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Shares of Tesla (NASDAQ TSLA) opened at 351.81 on Wednesday. Tesla has a 12 month low of $178.19 and a 12 month high of $389.61. The company’s market capitalization is $58.71 billion. The company’s 50 day moving average price is $355.77 and its 200 day moving average price is $339.60.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.00) by $0.67. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned ($1.06) EPS. The firm’s revenue was up 119.6% compared to the same quarter last year.

In other Tesla news, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total value of $777,888.00. Following the completion of the sale, the director now directly owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The disclosure for this sale can be found here. Insiders have sold 51,446 shares of company stock worth $17,504,929 over the last quarter. 23.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Flagship Harbor Advisors LLC grew its position in shares of Tesla by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 987 shares of the electric vehicle producer’s stock valued at $309,000 after purchasing an additional 4 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Tesla by 2.8% in the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock valued at $122,000 after purchasing an additional 9 shares in the last quarter. Cornerstone Advisors Inc. grew its position in shares of Tesla by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock valued at $145,000 after purchasing an additional 9 shares in the last quarter. Sterling Investment Advisors Ltd. grew its position in shares of Tesla by 2.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 853 shares of the electric vehicle producer’s stock valued at $308,000 after purchasing an additional 18 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its position in shares of Tesla by 2.6% in the second quarter. Gemmer Asset Management LLC now owns 779 shares of the electric vehicle producer’s stock valued at $282,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 56.62% of the company’s stock.

About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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