Brokers Offer Predictions for Tesla, Inc.’s FY2024 Earnings (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLAFree Report) – Zacks Research cut their FY2024 earnings per share estimates for shares of Tesla in a report issued on Wednesday, February 7th. Zacks Research analyst R. Singhi now anticipates that the electric vehicle producer will post earnings per share of $2.72 for the year, down from their previous forecast of $3.10. The consensus estimate for Tesla’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for Tesla’s Q4 2024 earnings at $0.76 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.81 EPS, Q3 2025 earnings at $0.85 EPS, Q4 2025 earnings at $0.78 EPS, FY2025 earnings at $3.19 EPS and FY2026 earnings at $4.16 EPS.

Other equities analysts have also recently issued research reports about the company. UBS Group decreased their price objective on Tesla from $229.00 to $225.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. The Goldman Sachs Group reduced their target price on Tesla from $255.00 to $220.00 and set a “neutral” rating for the company in a report on Thursday, January 25th. Morgan Stanley reissued an “overweight” rating and set a $380.00 target price on shares of Tesla in a report on Wednesday, December 27th. HSBC initiated coverage on Tesla in a report on Thursday, November 9th. They set a “reduce” rating and a $146.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on Tesla from $300.00 to $297.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $219.89.

Read Our Latest Analysis on TSLA

Tesla Stock Down 2.8 %

Tesla stock opened at $188.13 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.25 and a current ratio of 1.73. The business’s 50-day simple moving average is $224.58 and its two-hundred day simple moving average is $235.63. The company has a market cap of $599.15 billion, a PE ratio of 43.65, a PEG ratio of 3.25 and a beta of 2.43. Tesla has a fifty-two week low of $152.37 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results 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 return on equity of 16.62% and a net margin of 15.50%. The company had revenue of $25.17 billion during the quarter, compared to the consensus estimate of $25.64 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 104,716 shares of the company’s stock, valued at approximately $26,179,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 104,716 shares in the company, valued at approximately $26,179,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 1,049 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the transaction, the senior vice president now owns 61,124 shares in the company, valued at $14,935,038.16. The disclosure for this sale can be found here. Insiders have sold a total of 9,222 shares of company stock valued at $2,298,583 over the last quarter. Insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several hedge funds have recently modified their holdings of TSLA. Contravisory Investment Management Inc. purchased a new stake in Tesla during the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC purchased a new stake in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new stake in Tesla during the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $27,000. Finally, Halpern Financial Inc. grew its position in shares of Tesla by 1,111.1% in the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. 41.87% of the stock is currently owned by hedge funds and other institutional investors.

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. It 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, retail merchandise, and vehicle insurance services.

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Earnings History and Estimates for Tesla (NASDAQ:TSLA)

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