Brokers Set Expectations for Tesla, Inc.’s Q1 2024 Earnings (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Analysts at Zacks Research lowered their Q1 2024 earnings per share estimates for Tesla in a research report issued to clients and 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 estimate 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 data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.03). The firm had revenue of $25.17 billion during the quarter, compared to analyst estimates of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS.

Other research analysts have also recently issued reports about the stock. HSBC dropped their price objective on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating for the company in a research note on Wednesday, April 3rd. Canaccord Genuity Group dropped their price objective on shares of Tesla from $267.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Jefferies Financial Group dropped their price objective on shares of Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, April 10th. Robert W. Baird dropped their price objective on shares of Tesla from $300.00 to $280.00 and set an “outperform” rating for the company in a research note on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price 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. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $198.81.

Tesla Price Performance

TSLA stock opened at $157.11 on Tuesday. The firm has a 50 day moving average of $180.88 and a 200-day moving average of $213.04. Tesla has a 12-month low of $152.37 and a 12-month high of $299.29. 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 company has a market cap of $500.36 billion, a price-to-earnings ratio of 36.45, a PEG ratio of 4.50 and a beta of 2.40.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the director now directly 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 90 days, insiders sold 209,098 shares of company stock worth $38,802,534. Insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TSLA. MidWestOne Financial Group Inc. raised its stake in Tesla by 3.3% in the 1st quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock valued at $509,000 after acquiring an additional 15 shares during the period. City State Bank raised its stake in Tesla by 3.3% in the 3rd quarter. City State Bank now owns 1,260 shares of the electric vehicle producer’s stock valued at $315,000 after acquiring an additional 40 shares during the period. Marcum Wealth LLC raised its stake in Tesla by 0.6% in the 3rd quarter. Marcum Wealth LLC now owns 7,393 shares of the electric vehicle producer’s stock valued at $1,850,000 after acquiring an additional 41 shares during the period. Linscomb & Williams Inc. raised its stake in Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock valued at $1,329,000 after acquiring an additional 42 shares during the period. Finally, Opal Wealth Advisors LLC raised its stake in Tesla by 1.0% in the 3rd quarter. Opal Wealth Advisors LLC now owns 4,353 shares of the electric vehicle producer’s stock valued at $1,089,000 after acquiring an additional 42 shares during the period. Institutional investors own 66.20% of the company’s stock.

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.