Tractor Supply (NASDAQ:TSCO) Issues FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $10.10-10.40 for the period, compared to the consensus EPS estimate of $10.29. The company issued revenue guidance of $14.85-15.0 billion, compared to the consensus revenue estimate of $14.90 billion. Tractor Supply also updated its FY 2024 guidance to 10.100-10.400 EPS.

Tractor Supply Stock Performance

Shares of Tractor Supply stock traded down $1.52 during trading on Friday, hitting $272.77. 825,696 shares of the company’s stock traded hands, compared to its average volume of 1,052,698. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64. The stock has a market capitalization of $29.42 billion, a P/E ratio of 26.25, a PEG ratio of 3.66 and a beta of 0.80. The business has a 50-day simple moving average of $282.05 and a 200-day simple moving average of $272.89.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.01. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. As a group, analysts forecast that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 annualized dividend and a yield of 1.61%. Tractor Supply’s payout ratio is 42.43%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group raised Tractor Supply from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Wedbush reaffirmed a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a research note on Friday. Piper Sandler raised their price objective on Tractor Supply from $300.00 to $332.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Evercore ISI downgraded Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price objective on the stock. in a research note on Thursday, October 3rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $335.00 price objective on shares of Tractor Supply in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.96.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the sale, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the completion of the transaction, the senior vice president now owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

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.