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

Tractor Supply (NASDAQ:TSCO) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSCO. Truist Financial raised their target price on Tractor Supply from $277.00 to $289.00 and gave the company a buy rating in a report on Friday. UBS Group lifted their price objective on Tractor Supply from $220.00 to $240.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Benchmark reissued a buy rating and set a $256.00 price objective on shares of Tractor Supply in a report on Monday. Telsey Advisory Group reissued an outperform rating and set a $275.00 price objective on shares of Tractor Supply in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $248.17.

Tractor Supply Price Performance

TSCO traded up $8.64 during trading on Friday, hitting $273.90. The company’s stock had a trading volume of 1,599,523 shares, compared to its average volume of 1,172,440. The firm’s 50 day moving average price is $252.44 and its two-hundred day moving average price is $226.59. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $274.66. The stock has a market capitalization of $29.56 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 3.88 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO) last issued 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. Tractor Supply had a return on equity of 53.60% and a net margin of 7.61%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that Tractor Supply will post 10.2 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders 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 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, February 23rd. Tractor Supply’s dividend payout ratio (DPR) is 43.61%.

Insider Activity

In other news, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction 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 completion of the sale, the chief financial officer now directly 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 Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply 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 of the company’s stock, valued at $22,173,072.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurt D. Barton sold 4,335 shares of Tractor Supply stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 90,090 shares of company stock valued at $21,201,877. Company 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.