Tractor Supply (NASDAQ:TSCO) Issues 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.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research note on Monday, March 25th. Guggenheim boosted their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a research note on Friday, February 2nd. Evercore ISI boosted their target price on shares of Tractor Supply from $275.00 to $280.00 and gave the company an outperform rating in a research note on Friday. Finally, UBS Group boosted their target price on shares of Tractor Supply from $220.00 to $240.00 and gave the company a neutral rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $248.17.

Tractor Supply Trading Up 3.3 %

NASDAQ TSCO traded up $8.64 during trading hours on Friday, reaching $273.90. The company had a trading volume of 1,599,528 shares, compared to its average volume of 1,032,605. The stock has a 50-day moving average of $252.44 and a 200 day moving average of $226.59. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $274.66. The company has a current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $29.56 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 3.97 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last announced its 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. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. As a group, research analysts anticipate that Tractor Supply will post 10.23 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

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

Insider Transactions at Tractor Supply

In related news, EVP Robert D. Mills sold 48,334 shares of the business’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 owns 22,167 shares in the company, valued at $5,147,842.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Robert D. Mills sold 48,334 shares of the business’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 owns 22,167 shares in the company, valued at $5,147,842.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,090 shares of company stock valued at $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.