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

Tractor Supply (NASDAQ:TSCO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 9.850-10.500 for the period, compared to the consensus EPS 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 %

NASDAQ TSCO traded up $8.64 during midday trading on Friday, hitting $273.90. 1,599,523 shares of the company traded hands, compared to its average volume of 1,172,440. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $274.66. The company’s 50-day simple moving average is $252.44 and its 200-day simple moving average is $226.59. The company has a market cap of $29.56 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.50 and a quick ratio of 0.28.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results 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 company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.40 billion. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. As a group, equities research analysts forecast that Tractor Supply will post 10.2 earnings per share for the current year.

Tractor Supply Increases Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s payout ratio is 43.61%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wedbush reaffirmed a neutral rating and issued a $235.00 price target on shares of Tractor Supply in a report on Tuesday. Morgan Stanley boosted their target price on Tractor Supply from $195.00 to $235.00 and gave the stock an underweight rating in a research note on Friday. Wells Fargo & Company increased their price target on Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research note on Monday, March 25th. Benchmark restated a buy rating and set a $256.00 price target on shares of Tractor Supply in a research note on Monday. Finally, Evercore ISI increased their price objective on shares of Tractor Supply from $275.00 to $280.00 and gave the company an outperform rating in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tractor Supply presently has an average rating of Hold and an average target price of $248.17.

Insider Activity

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the completion of the transaction, the chief financial officer now owns 20,678 shares in the company, valued at $5,314,246. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders sold a total of 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 corporate insiders.

About Tractor Supply

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.