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Tesla : plans to use stock-cash mix to pay off March debt - Bbg

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12/06/2018 | 05:57pm EDT
FILE PHOTO: Flags fly over the Tesla Inc. Gigafactory 2, which is also known as RiverBend, a joint venture with Panasonic to produce solar panels and roof tiles in Buffalo, New York

(Reuters) - Tesla Inc will pay a 50-50 mix of stock and cash to holders of its bonds due in March, if they elect to convert the debt, Bloomberg reported https://www.bloomberg.com/news/articles/2018-12-06/tesla-is-said-to-plan-using-stock-cash-mix-to-pay-off-march-debt on Thursday, citing a copy of the settlement notice.

Tesla has 0.25 percent convertible senior notes coming due in March. As of September 2018, it had an unpaid principal balance of $920,000.

Tesla declined to comment on the report.

Tesla's move to use both cash and equity to return debt suggests that the company, which in the past has struggled with cash burn, is on a sustained path to profitability.

The electric-car maker reported free cash flow of $881 million in its latest quarter - the first time since the third quarter of fiscal 2016 - and Chief Executive Officer Musk has said the company will be cash flow positive and profitable in all quarters going forward.

The company is expected to generate $390 million in free cash flow in the fourth quarter, according to IBES data from Refinitiv.

(Reporting by Vibhuti Sharma and Alexandria Sage; Editing by Anil D'Silva)

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Financials ($)
Sales 2019 24 891 M
EBIT 2019 214 M
Net income 2019 -696 M
Debt 2019 8 225 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 84,25
EV / Sales 2019 1,83x
EV / Sales 2020 1,45x
Capitalization 37 303 M
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Mean consensus HOLD
Number of Analysts 30
Average target price 282 $
Spread / Average Target 34%
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Managers
NameTitle
Elon Reeve Musk Chief Executive Officer
Robyn M. Denholm Chairman
Deepak Ahuja Chief Financial Officer
Jeffrey B. Straubel Chief Technology Officer
Gary Clark Chief Information Officer
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