Tesla, Inc. (NASDAQ:TSLA - Free Report) - Investment analysts at Zacks Research dropped their Q1 2024 earnings per share estimates for shares of Tesla in a research report issued to clients and investors on Monday, April 15th. Zacks Research analyst R. Singhi now anticipates 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 - Get Free Report) last posted its earnings results 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 business 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 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.
TSLA has been the topic of a number of other reports. Wells Fargo & Company cut their price target on Tesla from $125.00 to $120.00 and set an "underweight" rating on the stock in a report on Friday. Barclays cut their price target on Tesla from $250.00 to $225.00 and set an "equal weight" rating on the stock in a report on Thursday, January 25th. UBS Group cut their price target on Tesla from $225.00 to $165.00 and set a "neutral" rating on the stock in a report on Thursday, March 14th. TD Cowen lowered their target price on Tesla from $200.00 to $180.00 and set a "market perform" rating on the stock in a research report on Thursday, January 25th. Finally, Mizuho reaffirmed a "neutral" rating and issued a $195.00 target price (down previously from $270.00) on shares of Tesla in a research report on Monday, March 25th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $198.81.
View Our Latest Stock Report on TSLA
Tesla Trading Down 2.7 %
TSLA stock traded down $4.37 during midday trading on Tuesday, hitting $157.11. 96,854,894 shares of the company's stock were exchanged, compared to its average volume of 102,190,344. The company has a market cap of $500.36 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 4.50 and a beta of 2.40. The stock's fifty day moving average price is $181.44 and its 200-day moving average price is $213.70. Tesla has a one year low of $152.37 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73.
Institutional Investors Weigh In On Tesla
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Axiom Financial Strategies LLC increased its holdings 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 worth $777,000 after buying an additional 81 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 purchasing an additional 164,789 shares during the period. MAS Advisors LLC grew its holdings in Tesla by 25.7% during the 1st quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer's stock worth $433,000 after acquiring an additional 81 shares during the period. Ergoteles LLC grew its holdings in Tesla by 33.4% during the 1st quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer's stock worth $3,844,000 after acquiring an additional 893 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Tesla by 6.8% during the 1st quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer's stock worth $77,767,000 after acquiring an additional 4,593 shares during the period. 66.20% of the stock is currently owned by institutional investors.
Insider Transactions at Tesla
In related news, SVP Xiaotong Zhu sold 687 shares of the business'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 value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Xiaotong Zhu sold 687 shares of the business'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 value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 93,706 shares of the company's stock in a transaction 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 of the company's stock, valued at $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 over the last quarter. Company insiders own 20.90% of the company's stock.
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. 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.
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