Tractor Supply (NASDAQ:TSCO) Updates FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $9.85-10.50 for the period, compared to the consensus 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

Tractor Supply stock opened at $273.90 on Friday. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.10 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.28. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $274.66. The firm has a 50-day moving average of $252.44 and a two-hundred day moving average of $226.74.

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 company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.40 billion. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 EPS. On average, research analysts forecast that Tractor Supply will post 10.26 earnings per share for the current year.

Tractor Supply Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TSCO shares. Truist Financial boosted their price target on shares of Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a report on Friday. Benchmark restated a buy rating and issued a $256.00 price target on shares of Tractor Supply in a report on Monday, April 22nd. Stephens lowered shares of Tractor Supply from an overweight rating to an equal weight rating and boosted their price target for the company from $226.00 to $240.00 in a report on Tuesday, January 23rd. Wells Fargo & Company boosted their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a report on Monday, March 25th. Finally, Mizuho restated a neutral rating and issued a $250.00 price target (up previously from $245.00) on shares of Tractor Supply in a report on Friday. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $248.17.

Insiders Place Their Bets

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the business’s 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 owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction 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 $5,314,246. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated Thursday, February 8th. The shares were 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 owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,090 shares of company stock valued at $21,201,877. 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.