Tractor Supply (NASDAQ:TSCO) Announces Earnings Results, Beats Expectations By $0.13 EPS

Tractor Supply (NASDAQ:TSCO) released its earnings results on Thursday. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13, Briefing.com reports. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. Tractor Supply had a return on equity of 52.99% and a net margin of 7.66%. Tractor Supply’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 EPS. Tractor Supply updated its FY24 guidance to $9.85-10.50 EPS and its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Trading Up 3.3 %

Tractor Supply stock opened at $273.90 on Friday. 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 business’s fifty day simple moving average is $252.44 and its two-hundred day simple moving average is $226.59. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $274.66. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders 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 an increase 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 42.84%.

Analyst Upgrades and Downgrades

TSCO has been the subject of several recent research reports. Guggenheim boosted their price objective on Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their price objective on Tractor Supply from $230.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Truist Financial boosted their price objective on Tractor Supply from $277.00 to $289.00 and gave the company a “buy” rating in a research report on Friday. Mizuho reiterated a “neutral” rating and issued a $250.00 price objective (up previously from $245.00) on shares of Tractor Supply in a research report on Friday. Finally, Wedbush reissued a “neutral” rating and set a $235.00 target price on shares of Tractor Supply in a research note on Tuesday. Two research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $248.17.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the business’s stock in a transaction on 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 directly owns 20,678 shares of the company’s stock, valued at $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kurt D. Barton sold 401 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the completion of the transaction, the chief financial officer now owns 25,013 shares in the company, valued at $5,804,516.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,090 shares of company stock valued at $21,201,877. 0.24% of the stock is currently 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.