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

Tractor Supply (NASDAQ:TSCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 9.850-10.500 for the period, compared to the consensus 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.

Tractor Supply Trading Up 3.3 %

Shares of NASDAQ:TSCO traded up $8.64 during mid-day trading on Friday, reaching $273.90. 1,599,523 shares of the company’s stock were exchanged, compared to its average volume of 1,172,440. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 3.88 and a beta of 0.84. The business’s fifty day moving average price is $252.44 and its 200-day moving average price is $226.59. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $274.66.

Tractor Supply (NASDAQ:TSCO) last released its earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. Tractor Supply’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. On average, research analysts predict that Tractor Supply will post 10.2 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $1.10 dividend. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s payout ratio is 43.61%.

Wall Street Analyst Weigh In

TSCO has been the subject of several research analyst reports. TD Cowen lifted their price target on shares of Tractor Supply from $250.00 to $270.00 and gave the company a buy rating in a research note on Friday. Truist Financial boosted their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research report on Monday, March 25th. Evercore ISI boosted their target price on shares of Tractor Supply from $275.00 to $280.00 and gave the stock an outperform rating in a research report on Friday. Finally, Stephens downgraded shares of Tractor Supply from an overweight rating to an equal weight rating and boosted their target price for the stock from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $248.17.

Insider Activity at Tractor Supply

In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew L. Rubin sold 725 shares of Tractor Supply stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at $1,359,493.90. The disclosure for this sale can be found here. Insiders have sold 90,090 shares of company stock valued at $21,201,877 over the last three months. 0.24% of the stock is owned by corporate insiders.

Tractor Supply Company Profile

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.