Tractor Supply (NASDAQ:TSCO) Issues FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY24 earnings guidance on Thursday morning. 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.

Tractor Supply Stock Performance

NASDAQ TSCO traded up $8.64 during trading on Friday, reaching $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 current ratio of 1.40, a quick ratio of 0.28 and a debt-to-equity ratio of 0.83. The firm 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 has a 12 month low of $185.00 and a 12 month high of $274.66. The firm has a 50 day moving average price of $252.44 and a 200 day moving average price of $226.59.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is 42.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TSCO shares. Wedbush reaffirmed a neutral rating and set a $235.00 price target on shares of Tractor Supply in a report on Tuesday. Telsey Advisory Group reissued an outperform rating and set a $275.00 target price on shares of Tractor Supply in a research note on Thursday. Robert W. Baird boosted their target price on Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research note on Friday. Raymond James boosted their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an outperform rating in a research note on Friday. Finally, Wells Fargo & Company boosted their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tractor Supply has a consensus rating of Hold and a consensus target price of $248.17.

Insider Activity at Tractor Supply

In related news, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the sale, the chief executive officer now directly owns 95,192 shares in the company, valued at $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now directly owns 25,013 shares in the company, valued at approximately $5,804,516.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was 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 have sold 90,090 shares of company stock worth $21,201,877 over the last ninety days. 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.