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.

Tractor Supply Price Performance

TSCO traded up $8.64 on Friday, hitting $273.90. 1,599,523 shares of the company’s stock traded hands, compared to its average volume of 1,172,440. Tractor Supply has a one year low of $185.00 and a one year high of $274.66. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The firm has a market cap of $29.56 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 3.88 and a beta of 0.84. The company’s 50 day simple moving average is $251.70 and its 200-day simple moving average is $226.10.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.13. The firm 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 company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. As a group, research analysts anticipate that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Monday, February 26th were paid a $1.10 dividend. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. 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. Tractor Supply’s dividend payout ratio (DPR) is presently 43.61%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Raymond James lifted their target price on Tractor Supply from $250.00 to $285.00 and gave the stock an outperform rating in a report on Friday. Truist Financial lifted their price objective on shares of Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research note on Friday. Barclays increased their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the company an equal weight rating in a research note on Friday. UBS Group raised 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. Finally, The Goldman Sachs Group upped their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the company a buy rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $248.17.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the sale, the chief executive officer now directly owns 95,192 shares in the company, valued at approximately $22,173,072.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply 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 transaction, the chief executive officer now owns 95,192 shares of the company’s stock, valued at approximately $22,173,072.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction 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 approximately $5,314,246. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock valued at $21,201,877 over the last 90 days. Corporate 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.