Zacks Research Brokers Cut Earnings Estimates for Tesla, Inc. (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Zacks Research cut their FY2024 EPS estimates for Tesla in a research note issued to investors on Monday, April 15th. Zacks Research analyst R. Singhi now forecasts that the electric vehicle producer will post earnings per share of $2.64 for the year, down from their prior forecast 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.

TSLA has been the subject of several other research reports. Redburn Atlantic assumed coverage on shares of Tesla in a research note on Wednesday, January 24th. They issued a “sell” rating and a $170.00 price objective for the company. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. The Goldman Sachs Group lowered their price objective on shares of Tesla from $190.00 to $175.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a research note on Wednesday, March 27th. Finally, Edward Jones downgraded shares of Tesla from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $197.15.

Tesla Stock Down 1.1 %

Shares of NASDAQ TSLA traded down $1.66 during midday trading on Wednesday, hitting $155.45. The company’s stock had a trading volume of 82,188,971 shares, compared to its average volume of 101,918,625. The business’s fifty day simple moving average is $180.88 and its two-hundred day simple moving average is $213.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla has a 1 year low of $152.37 and a 1 year high of $299.29. The firm has a market capitalization of $495.08 billion, a price-to-earnings ratio of 36.38, a price-to-earnings-growth ratio of 4.25 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $25.64 billion. During the same period in the previous year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year.

Insider Activity

In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total value of $16,439,605.20. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,631,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. 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. 20.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently bought and sold shares of the company. Founders Financial Securities LLC increased its stake in Tesla by 2.7% in the 1st quarter. Founders Financial Securities LLC now owns 10,802 shares of the electric vehicle producer’s stock valued at $1,899,000 after buying an additional 287 shares during the period. Foguth Wealth Management LLC. purchased a new stake in shares of Tesla during the 1st quarter worth $3,413,000. Gibson Capital LLC purchased a new stake in shares of Tesla during the 1st quarter worth $192,000. Romano Brothers AND Company boosted its position in shares of Tesla by 3.8% during the 1st quarter. Romano Brothers AND Company now owns 2,479 shares of the electric vehicle producer’s stock worth $436,000 after purchasing an additional 90 shares in the last quarter. Finally, Meritas Wealth Management LLC boosted its position in shares of Tesla by 50.7% during the 1st quarter. Meritas Wealth Management LLC now owns 1,695 shares of the electric vehicle producer’s stock worth $298,000 after purchasing an additional 570 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.