FY2024 EPS Estimates for Tesla, Inc. Reduced by Analyst (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Tesla in a research report issued on Monday, April 15th. Zacks Research analyst R. Singhi now forecasts that the electric vehicle producer will earn $2.64 per share for the year, down from their prior estimate of $2.72. The consensus estimate for Tesla’s current full-year earnings is $1.98 per share. Zacks Research also issued estimates for Tesla’s Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $3.14 EPS.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 business had revenue of $25.17 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a return on equity of 16.62% and a net margin of 15.50%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS.

Several other research firms have also recently weighed in on TSLA. Jefferies Financial Group lowered their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research report on Friday, April 12th. Daiwa Capital Markets cut shares of Tesla from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Sanford C. Bernstein lowered their price target on shares of Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, March 26th. Finally, The Goldman Sachs Group decreased their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $197.15.

Tesla Stock Down 1.1 %

Shares of NASDAQ TSLA opened at $155.45 on Wednesday. Tesla has a 12 month low of $152.37 and a 12 month 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 has a 50-day moving average of $180.24 and a 200-day moving average of $212.64.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of TSLA. Vanguard Group Inc. raised its position in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. State Street Corp raised its holdings in Tesla by 0.7% in the 1st quarter. State Street Corp now owns 99,683,820 shares of the electric vehicle producer’s stock worth $20,680,162,000 after purchasing an additional 685,454 shares during the period. Norges Bank bought a new stake in Tesla during the fourth quarter valued at about $7,844,757,000. Morgan Stanley grew its holdings in Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Finally, FMR LLC increased its position in Tesla by 0.9% in the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock worth $7,266,572,000 after buying an additional 269,182 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,706 shares of the company’s 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 sale, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $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 firm’s stock in a transaction dated 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 in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 in the last three months. 20.90% of the stock is owned by corporate insiders.

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.