Tesla Inc. (NASDAQ:TSLA) – Equities researchers at Oppenheimer Holdings dropped their Q3 2017 earnings per share (EPS) estimates for shares of Tesla in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst C. Rusch now forecasts that the electric vehicle producer will post earnings of ($3.09) per share 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.
Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the company posted ($1.06) EPS. The firm’s revenue for the quarter was up 119.6% compared to the same quarter last year.
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A number of other analysts also recently commented on the company. Zacks Investment Research downgraded Tesla from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Jaffray Companies set a $386.00 price target on Tesla and gave the company a “buy” rating in a research report on Monday. Barclays PLC reaffirmed a “sell” rating on shares of Tesla in a research report on Sunday. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 price target for the company in a research report on Friday, October 13th. Finally, Morgan Stanley increased their price target on Tesla from $317.00 to $379.00 and gave the company an “equal weight” rating in a research report on Monday, October 9th. Eleven investment 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’s stock. The company has an average rating of “Hold” and a consensus price target of $327.37.
Tesla (NASDAQ:TSLA) opened at 359.65 on Wednesday. Tesla has a 52 week low of $178.19 and a 52 week high of $389.61. The company’s market capitalization is $60.02 billion. The stock’s 50 day moving average price is $355.81 and its 200 day moving average price is $339.51.
In related news, VP Eric Branderiz sold 99 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total value of $34,661.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $321.36, for a total value of $703,778.40. Following the completion of the sale, the director now directly owns 160,274 shares in the company, valued at $51,505,652.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,446 shares of company stock worth $17,504,929. Company insiders own 23.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Envestnet Asset Management Inc. grew its stake in shares of Tesla by 70.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,504 shares of the electric vehicle producer’s stock worth $419,000 after purchasing an additional 621 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Tesla in the first quarter worth about $240,000. Neuberger Berman Group LLC grew its stake in shares of Tesla by 45.0% in the first quarter. Neuberger Berman Group LLC now owns 5,705 shares of the electric vehicle producer’s stock worth $1,588,000 after purchasing an additional 1,771 shares during the last quarter. AXA grew its stake in shares of Tesla by 23.3% in the first quarter. AXA now owns 2,096 shares of the electric vehicle producer’s stock worth $583,000 after purchasing an additional 396 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Tesla by 75.9% in the first quarter. Teachers Advisors LLC now owns 270,124 shares of the electric vehicle producer’s stock worth $75,176,000 after purchasing an additional 116,573 shares during the last quarter. 56.62% of the stock is currently owned by institutional investors.
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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