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

Tractor Supply (NASDAQ:TSCO) updated its FY 2024 earnings guidance on Thursday. 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.

Analyst Ratings Changes

A number of research firms recently weighed in on TSCO. The Goldman Sachs Group upped their target price on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Morgan Stanley upped their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a research note on Friday. Truist Financial upped their target price on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research note on Friday. Barclays upped their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an equal weight rating in a research note on Friday. Finally, Mizuho restated a neutral rating and set a $250.00 target price (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 issued a buy rating to the company. According to MarketBeat, Tractor Supply currently has an average rating of Hold and an average price target of $248.17.

Tractor Supply Price Performance

NASDAQ:TSCO traded up $8.64 during trading hours on Friday, hitting $273.90. The company’s stock had a trading volume of 1,599,523 shares, compared to its average volume of 1,172,440. The business’s 50-day moving average is $252.44 and its two-hundred day moving average is $226.59. The company has a market capitalization of $29.56 billion, a PE ratio of 27.15, a PEG ratio of 3.88 and a beta of 0.84. 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 52-week low of $185.00 and a 52-week high of $274.66.

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

Tractor Supply Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Insider Buying and Selling

In related news, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Robert D. Mills sold 48,334 shares of Tractor Supply stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $232.23, for a total transaction of $11,224,604.82. Following the completion of the sale, the executive vice president now owns 22,167 shares in the company, valued at approximately $5,147,842.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $257.00, for a total value of $1,114,095.00. Following the sale, the chief financial officer now owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,090 shares of company stock worth $21,201,877. 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.