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

Tesla (NASDAQ:TSLA) announced its quarterly earnings results on Tuesday. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10), Briefing.com reports. The company 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 10.68% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS.

Tesla Stock Up 3.4 %

Shares of TSLA stock traded up $7.32 on Thursday, reaching $223.31. 60,516,649 shares of the company’s stock traded hands, compared to its average volume of 100,936,055. The company 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. Tesla has a 12-month low of $138.80 and a 12-month high of $278.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The business’s 50 day moving average price is $203.92 and its two-hundred day moving average price is $191.17.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Truist Financial raised their price target on Tesla from $162.00 to $215.00 and gave the stock a “hold” rating in a report on Wednesday. Mizuho lifted their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. The Goldman Sachs Group cut their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Friday, July 5th. Finally, Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research note on Wednesday, April 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $201.03.

Insider Activity at Tesla

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