What to Expect When Tesla Reports on Wednesday
Tesla is scheduled to release its second-quarter financial results after the markets close on Wednesday.
Tesla Inc. (NASDAQ: TSLA) is scheduled to release its second-quarter financial results after the markets close on Wednesday. The consensus estimates call for a net loss of $2.89 per share and $3.96 billion in revenue. The same period of last year reportedly had a net loss of $1.33 per share and $2.79 billion in revenue.
The Wall Street Journal recently reported that Tesla may be looking to put a factory in Europe. This comes after Tesla had announced plans to build its first overseas plant in China. It was reported that Tesla has had preliminary discussions with two German states vying to host a so-called Gigafactory in Europe to build electric cars and batteries.
According to The Wall Street Journal:
Tesla Inc.’s international expansion is gaining momentum, with authorities in Germany and the Netherlands initiating talks with the company to build its first major European factory.
Excluding Tuesday’s move, Tesla stock has underperformed the broad markets with the share price down about 13% in the past 52 weeks. In just 2018 alone, the stock is down 7%.
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A few analysts weighed in on Tesla ahead of the report:
- UBS Group has a Sell rating with a $195 price target.
- Goldman Sachs has a Sell rating and a $195 price target.
- JPMorgan has a Sell rating with a $180 price target.
- Needham has an Underperform rating.
- Barclays has a Sell rating with a $210 price target.
- Merrill Lynch has a Sell rating with a $180 price target.
- Sanford Bernstein has a Neutral rating with a $265 target.
Shares of Tesla were last seen up 2% at $296.04, with a consensus analyst price target of $295.05 and a 52-week trading range of $244.59 to $389.61.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
