NEW YORK (TheStreet) -- Tesla Motors (TSLA) - Get Report stock closed down by 3.05% to $196.38 on Monday, after JPMorgan analysts warned that company's 2015 fourth quarter earnings and gross margins will be affected by the slower than expected production of the Model X, Barron's reports.

The firm lowered its fourth quarter earnings estimates to 10 cents per share from 26 cents per share, bringing its estimate below consensus of 11 cents per share.

Fourth quarter gross margins are expected to be lower than third quarter margin of 23.7%, JPMorgan said in an analyst note this morning, according to Barron's.

"Tesla has announced that 4Q deliveries tracked at 17,400 units, slightly softer than our prior forecast for 17,873 units, and more importantly that the miss was driven entirely by a shortfall in Model X deliveries (which tracked at 208 vs. JPM of 4,000)," analyst added, Barron's noted.

The company was able to offset lower Model X sales with Model S deliveries, which topped estimates at 17,192 units.

Separately, Tesla Motors has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's revenue growth, solid stock performance, expanding profit margins, deteriorating net income, generally higher debt management risk and disappointing return on equity.

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You can view the full analysis from the report here: TSLA

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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