Tractor Supply (NASDAQ:TSCO) Issues FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) updated its FY24 earnings guidance on Thursday. 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSCO. Guggenheim upped their price objective on Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Morgan Stanley restated an underweight rating and set a $195.00 price objective on shares of Tractor Supply in a research note on Tuesday, January 16th. Benchmark restated a buy rating and set a $256.00 price objective on shares of Tractor Supply in a research note on Monday. Barclays upped their target price on Tractor Supply from $192.00 to $234.00 and gave the company an equal weight rating in a research report on Wednesday, April 17th. Finally, Stephens lowered Tractor Supply from an overweight rating to an equal weight rating and upped their target price for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $241.65.

Tractor Supply Stock Up 0.8 %

Shares of TSCO opened at $258.13 on Thursday. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $268.02. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 3.84 and a beta of 0.84. The stock’s 50-day moving average price is $251.14 and its 200-day moving average price is $225.83.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.43 earnings per share. On average, sell-side analysts predict that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were given a dividend of $1.10 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $4.40 dividend on an annualized basis and a yield of 1.70%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is currently 43.61%.

Insiders Place Their Bets

In other Tractor Supply news, EVP Jonathan S. Estep sold 7,120 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 13,605 shares in the company, valued at $3,159,897.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jonathan S. Estep sold 7,120 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.26, for a total value of $1,653,691.20. Following the transaction, the executive vice president now owns 13,605 shares in the company, valued at $3,159,897.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred on 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 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 90 days, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by corporate 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.