Tractor Supply (NASDAQ:TSCO) Updates FY 2024 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 9.850-10.500 for the period, compared to the consensus EPS estimate of 10.230. The company issued revenue guidance of $14.7 billion-$15.1 billion, compared to the consensus revenue estimate of $15.0 billion. Tractor Supply also updated its FY24 guidance to $9.85-10.50 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research report on Friday. Benchmark restated a buy rating and issued a $256.00 price objective on shares of Tractor Supply in a research note on Monday, April 22nd. Morgan Stanley lifted their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a research report on Friday. Wedbush reissued a neutral rating and issued a $235.00 target price on shares of Tractor Supply in a research report on Tuesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $248.17.

Tractor Supply Trading Up 3.3 %

Shares of TSCO stock traded up $8.64 during mid-day trading on Friday, hitting $273.90. 1,599,528 shares of the company’s stock were exchanged, compared to its average volume of 1,032,605. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 4.10 and a beta of 0.84. The stock has a 50-day simple moving average of $252.44 and a two-hundred day simple moving average of $226.74. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $274.66. The company has a quick ratio of 0.28, a current ratio of 1.40 and a debt-to-equity ratio of 0.83.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the firm posted $1.65 EPS. The company’s revenue was up 2.8% on a year-over-year basis. Equities analysts expect that Tractor Supply will post 10.26 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is 42.84%.

Insider Buying and Selling

In other news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at $5,314,246. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now owns 9,673 shares in the company, valued at $2,418,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is currently owned by corporate insiders.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.