Tractor Supply (NASDAQ:TSCO) Updates FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $9.85-10.50 for the period, compared to the consensus EPS 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 Price Performance

Shares of NASDAQ:TSCO traded up $8.64 during midday trading on Friday, hitting $273.90. 1,599,523 shares of the stock were exchanged, compared to its average volume of 1,172,440. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $274.66. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $251.70 and a 200-day moving average price of $226.10. The stock has a market cap of $29.56 billion, a P/E ratio of 27.12, a PEG ratio of 3.88 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings results 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 return on equity of 53.60% and a net margin of 7.61%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business posted $1.65 earnings per share. Tractor Supply’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts forecast that Tractor Supply will post 10.2 earnings per share for the current 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 given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is currently 43.61%.

Analysts Set New Price Targets

TSCO has been the subject of several recent analyst reports. TD Cowen lifted their target price on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a buy rating in a research note on Friday. Evercore ISI lifted their price objective on Tractor Supply from $275.00 to $280.00 and gave the company an outperform rating in a research report on Friday. Truist Financial increased their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research report on Friday. Morgan Stanley boosted their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a report on Friday. Finally, Mizuho reissued a neutral rating and set a $250.00 price objective (up from $245.00) on shares of Tractor Supply in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tractor Supply has an average rating of Hold and an average target price of $248.17.

Insider Transactions at Tractor Supply

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