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

Tractor Supply (NASDAQ:TSCO) posted its earnings results on Thursday. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13, Briefing.com reports. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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 Stock Performance

NASDAQ:TSCO traded up $8.64 during mid-day trading on Friday, reaching $273.90. 1,599,523 shares of the stock were exchanged, compared to its average volume of 1,172,440. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $274.66. The company has a 50 day simple moving average of $252.44 and a 200-day simple moving average of $226.59. 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 stock has a market capitalization of $29.56 billion, a P/E ratio of 27.15, a P/E/G ratio of 3.88 and a beta of 0.84.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid 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 of this dividend was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio (DPR) is currently 43.61%.

Insider Activity

In other news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 22,167 shares in the company, valued at approximately $5,147,842.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Robert D. Mills sold 48,334 shares of the stock in a transaction on 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 directly owns 22,167 shares in the company, valued at $5,147,842.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Harry A. Lawton III sold 20,500 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the transaction, the chief executive officer now owns 95,192 shares in the company, valued at $22,173,072.56. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 in the last three months. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSCO. Robert W. Baird upped their price target on shares of Tractor Supply from $260.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley increased their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a report on Friday. Barclays increased their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday. Guggenheim increased their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, UBS Group increased their target price on shares of Tractor Supply from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Tractor Supply presently has an average rating of “Hold” and a consensus price target of $248.17.

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.