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 earnings per share guidance of $9.85-10.50 for the period, compared to the consensus earnings per share 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 Tractor Supply stock traded up $8.64 on Friday, hitting $273.90. The company’s stock had a trading volume of 1,599,528 shares, compared to its average volume of 1,032,605. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $274.66. The firm has a fifty day moving average price of $252.44 and a 200-day moving average price of $226.59. The company has a market capitalization of $29.56 billion, a price-to-earnings 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 quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Tractor Supply’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tractor Supply will post 10.23 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. Investors of record on Monday, February 26th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.61%. 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. Tractor Supply’s payout ratio is presently 42.84%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Benchmark restated a buy rating and set a $256.00 target price on shares of Tractor Supply in a report on Monday, April 22nd. Morgan Stanley upped their price objective on Tractor Supply from $195.00 to $235.00 and gave the company an underweight rating in a report on Friday. Telsey Advisory Group reiterated an outperform rating and issued a $275.00 price objective on shares of Tractor Supply in a report on Thursday. Truist Financial upped their price objective on Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a report on Friday. Finally, Wedbush reissued a neutral rating and issued a $235.00 target price on shares of Tractor Supply in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $248.17.

Insider Buying and Selling at Tractor Supply

In other news, SVP Matthew L. Rubin sold 725 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the sale, the senior vice president now owns 5,710 shares in the company, valued at $1,359,493.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Matthew L. Rubin sold 725 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the completion of the sale, the senior vice president now owns 5,710 shares in the company, valued at $1,359,493.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan S. Estep sold 7,120 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the sale, the executive vice president now owns 13,605 shares of the company’s stock, valued at approximately $3,159,897.30. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock worth $21,201,877 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

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.