Tractor Supply to Post Q2 2018 Earnings of $1.59 Per Share, Wedbush Forecasts (TSCO)
Tractor Supply (NASDAQ:TSCO) – Wedbush dropped their Q2 2018 earnings per share (EPS) estimates for shares of Tractor Supply in a note issued to investors on Thursday. Wedbush analyst S. Basham now expects that the specialty retailer will post earnings per share of $1.59 for the quarter, down from their prior forecast of $1.60. Wedbush currently has a “Neutral” rating and a $80.00 target price on the stock. Wedbush also issued estimates for Tractor Supply’s Q3 2018 earnings at $0.83 EPS, FY2018 earnings at $4.06 EPS, FY2019 earnings at $4.45 EPS and FY2020 earnings at $4.91 EPS.
TSCO has been the subject of a number of other reports. Piper Jaffray Companies reissued a “hold” rating and set a $56.00 target price on shares of Tractor Supply in a research note on Friday, October 27th. Royal Bank of Canada upped their price objective on shares of Tractor Supply to $74.00 and gave the stock a “sector perform” rating in a research note on Monday, January 29th. KeyCorp reaffirmed a “hold” rating on shares of Tractor Supply in a research note on Friday, November 10th. Robert W. Baird set a $66.00 price objective on shares of Tractor Supply and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $88.00 price objective on shares of Tractor Supply in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $72.85.
Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Wednesday, January 31st. The specialty retailer reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.04. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. Tractor Supply had a net margin of 5.82% and a return on equity of 30.81%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 earnings per share.
A number of institutional investors have recently made changes to their positions in TSCO. Calton & Associates Inc. bought a new position in Tractor Supply in the fourth quarter worth about $109,000. Global X MANAGEMENT CO LLC raised its holdings in Tractor Supply by 191.7% in the third quarter. Global X MANAGEMENT CO LLC now owns 1,785 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 1,173 shares in the last quarter. Bristlecone Advisors LLC bought a new position in Tractor Supply in the third quarter worth about $173,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Tractor Supply in the fourth quarter worth about $187,000. Finally, Advisor Partners LLC bought a new position in Tractor Supply in the fourth quarter worth about $207,000. Institutional investors and hedge funds own 92.99% of the company’s stock.
In other Tractor Supply news, CMO Steve K. Barbarick sold 43,076 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $69.03, for a total value of $2,973,536.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company’s stock.
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Tractor Supply Company Profile
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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