Analysts Offer Predictions for Tesla, Inc.'s FY2024 Earnings (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA - Free Report) - Investment analysts at Zacks Research lowered their FY2024 earnings estimates for Tesla in a research note issued on Monday, April 15th. Zacks Research analyst R. Singhi now anticipates that the electric vehicle producer will post earnings per share of $2.64 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 - Get Free Report) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.03). Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period last year, the business posted $1.07 EPS. The firm's revenue for the quarter was up 3.5% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $298.00 price objective on shares of Tesla in a research report on Wednesday, March 27th. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a report on Tuesday, April 2nd. China Renaissance assumed coverage on shares of Tesla in a report on Monday, February 26th. They set a "hold" rating for the company. UBS Group reduced their target price on shares of Tesla from $225.00 to $165.00 and set a "neutral" rating for the company in a report on Thursday, March 14th. Finally, Redburn Atlantic assumed coverage on shares of Tesla in a report on Wednesday, January 24th. They set a "sell" rating and a $170.00 target price for the company. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $197.15.

Tesla Stock Performance

Shares of TSLA traded down $1.66 during midday trading on Wednesday, reaching $155.45. The stock had a trading volume of 82,283,222 shares, compared to its average volume of 101,923,211. The firm has a 50 day simple moving average of $180.24 and a 200-day simple moving average of $212.64. Tesla has a one year low of $152.37 and a one year high of $299.29. The firm has a market cap of $495.08 billion, a PE ratio of 36.07, a P/E/G 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.

Hedge Funds Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mount Vernon Associates Inc. MD increased its position in shares of Tesla by 5.3% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer's stock worth $1,724,000 after buying an additional 350 shares during the period. Oak Ridge Investments LLC increased its position in shares of Tesla by 4.6% during the third quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer's stock worth $8,065,000 after buying an additional 1,405 shares during the period. CWM LLC increased its position in shares of Tesla by 14.4% during the third quarter. CWM LLC now owns 146,740 shares of the electric vehicle producer's stock worth $36,717,000 after buying an additional 18,462 shares during the period. Corient Private Wealth LLC increased its position in shares of Tesla by 3.7% during the third quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer's stock worth $182,352,000 after buying an additional 25,943 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Tesla by 11.8% during the fourth quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer's stock worth $193,935,000 after buying an additional 81,729 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,705 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,631,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at $2,631,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. 20.90% of the stock is currently owned by corporate insiders.

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.