Analysts Offer Predictions for Tesla, Inc.’s Q1 2024 Earnings (NASDAQ:TSLA)

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

A number of other equities analysts have also recently commented on the stock. UBS Group dropped their price objective on shares of Tesla from $225.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $200.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Morgan Stanley dropped their price objective on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Citigroup dropped their price target on shares of Tesla from $196.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday. 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 stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $198.81.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $161.48 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The company has a market cap of $514.28 billion, a P/E ratio of 37.47, a P/E/G ratio of 4.50 and a beta of 2.40. The firm’s fifty day moving average is $181.44 and its two-hundred day moving average is $213.70. Tesla has a 52-week low of $152.37 and a 52-week high of $299.29.

Hedge Funds Weigh In On Tesla

Large investors have recently added to or reduced their stakes in the stock. Wyrmwood Management LLC acquired a new position in Tesla during the fourth quarter worth $25,000. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $25,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Tesla in the third quarter valued at about $27,000. MayTech Global Investments LLC acquired a new stake in shares of Tesla in the fourth quarter valued at about $30,000. Finally, Perkins Coie Trust Co raised its position in shares of Tesla by 72.0% in the third quarter. Perkins Coie Trust Co now owns 129 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 54 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 31,230 shares in the company, valued at $6,376,229.10. The disclosure for this sale can be found here. Insiders have sold 209,098 shares of company stock valued at $38,802,534 in the last ninety days. Insiders own 20.90% of the company’s stock.

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.