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

Tesla, Inc. (NASDAQ:TSLAFree Report) – Analysts at Zacks Research decreased their Q1 2024 earnings per share estimates for Tesla in a report issued on Wednesday, February 7th. Zacks Research analyst R. Singhi now forecasts that the electric vehicle producer will earn $0.61 per share for the quarter, down from their previous forecast of $0.69. The consensus estimate for Tesla’s current full-year earnings is $2.70 per share. Zacks Research also issued estimates for Tesla’s Q2 2024 earnings at $0.69 EPS and Q3 2024 earnings at $0.66 EPS.

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

A number of other research firms also recently weighed in on TSLA. TD Cowen cut their price target on Tesla from $200.00 to $180.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Morgan Stanley reissued an “overweight” rating and issued a $380.00 target price on shares of Tesla in a research note on Wednesday, December 27th. Guggenheim raised their target price on Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a report on Friday, December 15th. Canaccord Genuity Group cut their price target on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Piper Sandler decreased their price objective on shares of Tesla from $295.00 to $225.00 and set an “overweight” rating for the company in a report on Monday. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $219.89.

View Our Latest Research Report on Tesla

Tesla Trading Up 1.1 %

Shares of NASDAQ TSLA opened at $189.56 on Friday. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29. The firm has a market capitalization of $603.71 billion, a P/E ratio of 43.98, a P/E/G ratio of 3.10 and a beta of 2.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The company’s 50 day simple moving average is $226.43 and its 200 day simple moving average is $237.03.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 104,716 shares in the company, valued at approximately $26,179,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 104,716 shares in the company, valued at approximately $26,179,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 1,049 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the sale, the senior vice president now directly owns 61,124 shares of the company’s stock, valued at approximately $14,935,038.16. The disclosure for this sale can be found here. Insiders have sold 9,222 shares of company stock valued at $2,298,583 in the last three months. 25.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. Contravisory Investment Management Inc. bought a new position in shares of Tesla during the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC acquired a new stake in Tesla during the 4th quarter valued at $25,000. Lam Group Inc. bought a new position in Tesla during the fourth quarter worth $25,000. Halpern Financial Inc. increased its holdings in shares of Tesla by 1,111.1% in the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla during the 3rd quarter worth about $27,000. 41.87% of the stock is owned by institutional investors.

Tesla Company Profile

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Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.

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Earnings History and Estimates for Tesla (NASDAQ:TSLA)

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