Tesla Inc. is expected to bring. report results in the fourth quarter after the bell on Wednesday, with all eyes on Silicon Valley electric car maker sales targets for 2021.
Called in October to discuss Tesla ‘s third – quarter earnings, one analyst estimated 2021 sales between 840,000 to 1 million vehicles, and CEO Elon Musk replied that it was likely to be “close by,” and that it was not. the analyst “long. off. ”
Chief Financial Officer Zach Kirkhorn then said that Tesla TSLA,
he would take official 2021 guidance when reporting fourth quarter results, seemingly preventing Musk from saying more.
Overall last year, despite factory closures and other pandemic-related bags, Tesla fully maintained its 2020 sales guidance, and the company ended the year with a haircut from it , earning praise from Wall Street.
Tesla said earlier this month that it had rolled out more than half a million vehicles and delivered 499,550 by 2020. Delivery is a substitute for Tesla’s sales. Prior to the outbreak of the pandemic, the company set a target of delivering more than 500,000 vehicles a year.
Wall Street analysts expect delivery management of about 825,000 and 875,000 vehicles.
Here are the other things to expect:
Earnings: A consensus from 37 Wall Street analysts surveyed by FactSet calls for GAAP earnings of 65 cents per share, which would be comparable to GAAP earnings of 12 cents per share in the fourth quarter of 2019.
Analysts expect an adjusted profit of $ 1.04 a share, which would be compared to an adjusted profit of 43 cents a year ago. Fourth-quarter profit is Tesla’s sixth straight-line GAAP and adjusted earnings.
Estimate, a crowdfunding platform that collects estimates from Wall Street analysts as well as buying side analysts, asset managers, company executives, academics and others, is expected to have a modified profit of $ 1.02 a share.
Income: Analysts surveyed by FactSet expect sales of $ 10.53 billion for Tesla, up from $ 7.38 billion a year ago. Estimate revenue for the company at $ 10.61 billion.
Stock transfer: Tesla stock welcomed 2021 just about the same way it ended 2020: Scoring closures and high intraday records. Earlier this month, the stock went up with the longest run ever.
Tesla shares are up 635% in the last 12 months, compared to gains of around 16% for the S&P 500 SPX index,
at the same time.
What else would you expect: Full-year results provide the clearest but still clearest picture of the coronavirus pandemic impact on the company.
In addition to the official 2021 sales guide, Wall Street is looking for more releases on the Model Y, the latest addition to Tesla’s line, and upcoming models, such as the Cybertruck and a cheaper unmanned vehicle. only and has been known as “Model 2.”
Analysts at JPMorgan on Friday said they remained “very cautious” on Tesla because of its stock valuation, but raised their stock price target to $ 125 from $ 105, the lowest level among stocks. -analyst analyzed by FactSet.
“While we are still proposing a major downturn, we do not consider our price target to be as unanimous as it values Tesla as the world’s second largest automaker with market capitalization, on behind Toyota and ahead of Volkswagen despite the fact that these manufacturers currently sell on order the size of 20x as many vehicles per year to Tesla, ”said JPMorgan analysts, led by Ryan Brinkman , in their note.
RBC analysts, led by Joseph Spak, said in a recent note that they expect Tesla to replicate the recently built 2021 capex outlook, which calls for $ 4.5 billion and $ 6 billion.
Historically, Tesla has issued guidelines for free cash flow and GAAP net income, analysts told RBC, but they could hold on to more than just demand “significant” year-on-year development.
Deutsche Bank analysts said they expect a “hard” quarter for Tesla, raising the delivery forecast to 825,000 vehicles from 800,000, “given
continued strong sales of Model 3 and fast ramp of Model Y. (made in China). ”
Deutsche Bank analysts, led by Emmanuel Rosner, raised their price target on Tesla shares to $ 890 from $ 705 to $ 890, based on higher sales expectations and profits through 2021 and the next few years. .
On average, Tesla has a $ 525 price target on Tesla analysts surveyed by FactSet, with 12 out of the 37 having a buy rating on the stock, 15 rating it as a catch, and the remaining 10 are sold. The $ 525 average represents a 37% drop from Friday’s prices.