Tractor Supply (NASDAQ:TSCO) Releases FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $9.85-10.50 for the period, compared to the consensus estimate of $10.24. The company issued revenue guidance of $14.7-15.1 billion, compared to the consensus revenue estimate of $14.99 billion. Tractor Supply also updated its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Stock Up 2.8 %

Shares of NASDAQ TSCO traded up $7.13 during trading hours on Thursday, hitting $265.26. The company had a trading volume of 2,295,194 shares, compared to its average volume of 1,167,099. The stock has a market capitalization of $28.63 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 3.84 and a beta of 0.84. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $268.02. The firm’s 50 day moving average is $251.70 and its 200-day moving average is $226.10.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, beating the consensus estimate of $2.22 by $0.06. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, analysts expect that Tractor Supply will post 10.2 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $1.10 per share. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 annualized dividend and a yield of 1.66%. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSCO. Telsey Advisory Group restated an outperform rating and issued a $275.00 price target on shares of Tractor Supply in a research report on Thursday. Wedbush reaffirmed a neutral rating and issued a $235.00 price objective on shares of Tractor Supply in a research note on Tuesday. Mizuho started coverage on Tractor Supply in a research note on Tuesday, March 19th. They issued a neutral rating and a $245.00 price objective on the stock. Evercore ISI reduced their price objective on Tractor Supply from $280.00 to $275.00 and set an outperform rating on the stock in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company raised their price objective on Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $241.65.

Insiders Place Their Bets

In other Tractor Supply news, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total value of $11,224,604.82. Following the completion of the sale, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s 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 transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert D. Mills sold 48,334 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the transaction, the executive vice president now directly owns 22,167 shares in the company, valued at $5,147,842.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is currently owned by company 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.