Tesla, Inc. (NASDAQ:TSLA) to Post Q4 2024 Earnings of $0.58 Per Share, Wedbush Forecasts

Tesla, Inc. (NASDAQ:TSLA) – Wedbush dropped their Q4 2024 earnings per share (EPS) estimates for Tesla in a research report issued to clients and investors on Wednesday, April 24th. Wedbush analyst D. Ives now expects that the electric vehicle producer will post earnings per share of $0.58 for the quarter, down from their previous forecast of $0.70. Wedbush has a “Outperform” rating and a $275.00 price target on the stock. The consensus estimate for Tesla’s current full-year earnings is $1.97 per share. Wedbush also issued estimates for Tesla’s Q2 2025 earnings at $0.70 EPS and Q4 2025 earnings at $0.80 EPS.

Other research analysts have also issued research reports about the company. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Canaccord Genuity Group reduced their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. HSBC lowered their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. KGI Securities reaffirmed a “neutral” rating and set a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Finally, China Renaissance started coverage on shares of Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $184.32.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $183.28 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market cap of $584.52 billion, a PE ratio of 46.76, a PEG ratio of 4.45 and a beta of 2.40. Tesla has a one year low of $138.80 and a one year high of $299.29. The firm has a fifty day moving average of $174.71 and a 200 day moving average of $206.29.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now owns 63,171 shares in the company, valued at $11,188,215.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $18,247,369.38. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $2,920,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,098 shares of company stock worth $38,802,534. Corporate insiders own 20.90% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in TSLA. Holderness Investments Co. raised its stake in shares of Tesla by 1.6% in the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after buying an additional 42 shares during the period. SCS Capital Management LLC boosted its holdings in shares of Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after acquiring an additional 45 shares during the period. Daymark Wealth Partners LLC grew its holdings in Tesla by 0.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after buying an additional 45 shares in the last quarter. ML & R Wealth Management LLC lifted its holdings in shares of Tesla by 2.6% in the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock worth $455,000 after buying an additional 46 shares in the last quarter. Finally, LCM Capital Management Inc lifted its stake in Tesla by 3.5% in the 3rd quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after purchasing an additional 46 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

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.