Q1 2024 EPS Estimates for Tesla, Inc. Decreased by Zacks Research (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Stock analysts at Zacks Research lowered their Q1 2024 earnings per share (EPS) estimates for Tesla in a report issued on Monday, April 15th. Zacks Research analyst R. Singhi now forecasts that the electric vehicle producer will post earnings of $0.58 per share for the quarter, down from their prior estimate 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.

Several other research analysts have also recently issued reports on TSLA. Sanford C. Bernstein dropped their price target on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Morgan Stanley cut their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Citigroup cut their target price on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Finally, HSBC cut their target price on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 3rd. Ten research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $198.81.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $157.11 on Tuesday. Tesla has a 12 month low of $152.37 and a 12 month high of $299.29. The stock has a market cap of $500.36 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 4.50 and a beta of 2.40. The stock’s 50 day moving average price is $180.88 and its 200 day moving average price is $213.04. 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 (NASDAQ:TSLA) last announced 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). Tesla had a return on equity of 16.62% and a net margin of 15.50%. The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the firm earned $1.07 EPS. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis.

Institutional Trading of Tesla

Several hedge funds have recently modified their holdings of TSLA. Axiom Financial Strategies LLC grew its stake in shares of Tesla by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer’s stock valued at $777,000 after purchasing an additional 81 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Tesla by 19.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer’s stock valued at $1,079,672,000 after acquiring an additional 164,789 shares during the last quarter. MAS Advisors LLC boosted its stake in Tesla by 25.7% in the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer’s stock valued at $433,000 after acquiring an additional 81 shares during the last quarter. Ergoteles LLC boosted its stake in Tesla by 33.4% in the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer’s stock valued at $3,844,000 after acquiring an additional 893 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Tesla by 6.8% in the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer’s stock valued at $77,767,000 after acquiring an additional 4,593 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 687 shares of the firm’s 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 directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. Company insiders own 20.90% of the company’s stock.

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.