Tractor Supply (NASDAQ:TSCO) Releases Earnings Results, Meets Estimates

Tractor Supply (NASDAQ:TSCO) issued its quarterly earnings results on Thursday. The specialty retailer reported $3.93 EPS for the quarter, hitting analysts’ consensus estimates of $3.93, RTT News reports. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company earned $3.83 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Tractor Supply updated its FY24 guidance to $10.00-$10.40 EPS and its FY 2024 guidance to 10.000-10.400 EPS.

Tractor Supply Price Performance

Shares of TSCO stock opened at $262.52 on Friday. The stock’s fifty day moving average is $273.49 and its 200-day moving average is $257.23. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.19 and a current ratio of 1.43. The stock has a market capitalization of $28.30 billion, a PE ratio of 25.56, a PEG ratio of 3.37 and a beta of 0.81. Tractor Supply has a 52 week low of $185.00 and a 52 week high of $290.38.

Tractor Supply Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 28th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, May 24th. Tractor Supply’s payout ratio is presently 42.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Piper Sandler upped their price target on Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Tractor Supply in a report on Thursday. Barclays upped their price target on Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Truist Financial upped their price target on Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a report on Friday. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $256.58.

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.