Q1 2024 EPS Estimates for Tesla, Inc. (NASDAQ:TSLA) Reduced by Analyst

Tesla, Inc. (NASDAQ:TSLA) – Equities research analysts at Zacks Research decreased their Q1 2024 earnings estimates for Tesla in a research report issued on Monday, April 15th. Zacks Research analyst R. Singhi now anticipates that the electric vehicle producer will post earnings of $0.58 per share for the quarter, down from their prior forecast of $0.61. The consensus estimate for Tesla’s current full-year earnings is $1.98 per share. Zacks Research also issued estimates for Tesla’s Q2 2024 earnings at $0.68 EPS, Q3 2024 earnings at $0.64 EPS, Q4 2024 earnings at $0.74 EPS, Q1 2025 earnings at $0.74 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $0.83 EPS and FY2026 earnings at $4.12 EPS.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The firm had revenue of $25.17 billion for the quarter, compared to analyst estimates of $25.64 billion. During the same period last year, the firm earned $1.07 earnings per share. Tesla’s revenue for the quarter was up 3.5% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. Sanford C. Bernstein dropped their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Redburn Atlantic started coverage on shares of Tesla in a research report on Wednesday, January 24th. They issued a “sell” rating and a $170.00 target price for the company. Piper Sandler lowered their price target on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Citigroup cut their price objective on Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, China Renaissance began coverage on Tesla in a research note on Monday, February 26th. They issued a “hold” rating on the stock. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $197.15.

Tesla Stock Down 1.1 %

NASDAQ:TSLA opened at $155.45 on Tuesday. Tesla has a 1-year low of $152.37 and a 1-year high of $299.29. The firm has a market capitalization of $495.08 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 4.25 and a beta of 2.39. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $180.24 and its 200 day moving average price is $212.64.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 687 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total transaction of $121,674.57. Following the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock worth $38,802,534 in the last ninety days. Insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mount Vernon Associates Inc. MD boosted its holdings in Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares in the last quarter. Oak Ridge Investments LLC grew its position in Tesla by 4.6% in the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock valued at $8,065,000 after acquiring an additional 1,405 shares during the period. CWM LLC raised its stake in Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer’s stock worth $36,717,000 after acquiring an additional 18,462 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock valued at $182,352,000 after acquiring an additional 25,943 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Tesla by 11.8% in the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock valued at $193,935,000 after purchasing an additional 81,729 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.