Zacks Research Equities Analysts Lower Earnings Estimates for Tesla, Inc. (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Zacks Research reduced their Q1 2024 earnings estimates for Tesla in a research note issued on Monday, April 15th. Zacks Research analyst R. Singhi now expects that the electric vehicle producer will earn $0.58 per share for the quarter, down from their previous 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 issued its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share.

Other equities analysts have also issued research reports about the company. Barclays decreased their price target on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Wells Fargo & Company dropped their target price on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a report on Friday, April 12th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, April 2nd. Finally, Redburn Atlantic assumed coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective for the company. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $197.15.

Tesla Stock Down 1.1 %

Shares of TSLA opened at $155.45 on Tuesday. The firm has a 50 day simple moving average of $180.24 and a two-hundred day simple moving average of $212.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla has a one year low of $152.37 and a one year high of $299.29. The company has a market cap of $495.08 billion, a P/E ratio of 36.07, a P/E/G ratio of 4.25 and a beta of 2.39.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the transaction, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Insiders have sold a total of 209,098 shares of company stock worth $38,802,534 over the last quarter. Company insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Norges Bank acquired a new position in Tesla during the 4th quarter worth approximately $7,844,757,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Tesla by 180,125.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,851,778 shares of the electric vehicle producer’s stock worth $3,307,602,000 after purchasing an additional 26,836,879 shares in the last quarter. Bank of New York Mellon Corp grew its position in Tesla by 203.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 20,208,699 shares of the electric vehicle producer’s stock valued at $5,360,358,000 after purchasing an additional 13,558,882 shares during the period. International Assets Investment Management LLC increased its stake in Tesla by 25,990.7% during the 4th quarter. International Assets Investment Management LLC now owns 6,202,806 shares of the electric vehicle producer’s stock valued at $1,541,273,000 after purchasing an additional 6,179,032 shares in the last quarter. Finally, Morgan Stanley increased its stake in Tesla by 26.3% during the 4th quarter. Morgan Stanley now owns 25,427,168 shares of the electric vehicle producer’s stock valued at $3,132,119,000 after purchasing an additional 5,292,464 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

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.