Tractor Supply (NASDAQ:TSCO) Updates FY 2024 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 9.850-10.500 for the period, compared to the consensus earnings per share estimate of 10.230. The company issued revenue guidance of $14.7 billion-$15.1 billion, compared to the consensus revenue estimate of $15.0 billion. Tractor Supply also updated its FY24 guidance to $9.85-10.50 EPS.

Tractor Supply Stock Up 3.3 %

Shares of Tractor Supply stock traded up $8.64 during trading on Friday, reaching $273.90. The company had a trading volume of 1,599,528 shares, compared to its average volume of 1,032,605. The company has a market cap 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 fifty-two week low of $185.00 and a fifty-two week high of $274.66. The firm’s fifty day moving average is $252.44 and its 200-day moving average is $226.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40.

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

Tractor Supply Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on TSCO shares. Morgan Stanley upped their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a research report on Friday. Raymond James upped their target price on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an outperform rating in a research report on Friday. Robert W. Baird upped their target price on shares of Tractor Supply from $260.00 to $285.00 and gave the stock an outperform rating in a research report on Friday. Wedbush reiterated a neutral rating and issued a $235.00 price objective on shares of Tractor Supply in a report on Tuesday. Finally, TD Cowen increased their price objective on shares of Tractor Supply from $250.00 to $270.00 and gave the company a buy rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $248.17.

Insider Activity at Tractor Supply

In related news, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares in the company, valued at approximately $2,418,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tractor Supply news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 95,192 shares in the company, valued at approximately $22,173,072.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is 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.