Tesla Motors Inc (NASDAQ:TSLA) Gets A #5 Zacks Rank On Its Stocks

Tesla Motors Inc (NASDAQ:TSLA) recently announced financial report for the company’s third fiscal quarter, and it will not be wrong to say that the figures were not up to the expectations. The company beat the revenue estimates; however, it was far behind the estimated numbers when it came to earnings. The automaker is quite sure that it will ship its predicted number of Model S SUVs, despite the fact that it has quite a low delivery projection.

Tesla Motors Inc (NASDAQ:TSLA) reported an adjusted loss of 25 cents for the third quarter. The loss was way wider than the estimates of market researchers, as the consensus loss was estimated to be around 15 cents. The revenues of the company, on the other hand, increased by almost 55 percent on yearly basis, and touched the figures of $932.3 million. Market researchers were expecting the revenues to be at $868.

The company made total shipments of 7, 785 for its Model S SUVs in the third quarter. It is important to note here that the company itself was expecting the numbers to reach at least 7,800. Where it failed to meet the estimates, it definitely saw a boom, for the total shipments for 3Q were up by 41.5 percent when compared with the shipments made during the same quarter a year back. The company had previously predicted that it would deliver around 35,000 cars in the year 2014; however, it recently revised that forecast and brought the numbers to as low as 33,000.

This decrease in the outlook resulted due to a 2 week closure at the factory site, which resulted in late deliveries of Model X to the market. The company will deliver its Model X crossover somewhere in the third quarter of the next year.

Market researcher firms were expecting an EPS (earnings per share) of $36 for the next quarter. However, Tesla Motors Inc (NASDAQ:TSLA) has predicted the EPS to fall in the range of $30 to $35. Even though the company reported low figures for its recent quarter, it is looking forward to the next quarter, for the demand of Model S has exceeded the production capacity, which means that Model S can see a growth as high as 50 percent. The company expects its shipments to reach to 50,000 in the next year.

The shares of the company recently saw a growth of 6.8 percent when the volume of the shares elevated to 2.5 fold the normal size.
The company is currently in the process of expanding its production capacity for its Model X and Model S. Tesla Motors Inc (NASDAQ:TSLA) currently holds a #5 Zacks rank on its stocks, which means that the ratings on the shares are of ‘strong sell’.

As far as the trading range of Tesla’s stocks is concerned, the stocks are being traded in the range of $236.80 to $240. The company has a total market capitalization of $28.89 billion, with a negative EPS of $1.63.