Tractor Supply (NASDAQ:TSCO) Issues 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued a neutral rating and set a $235.00 price objective on shares of Tractor Supply in a research report on Tuesday. Truist Financial lifted their target price on shares of Tractor Supply from $256.00 to $277.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Stephens cut shares of Tractor Supply from an overweight rating to an equal weight rating and lifted their target price for the company from $226.00 to $240.00 in a research note on Tuesday, January 23rd. Telsey Advisory Group lifted their target price on shares of Tractor Supply from $250.00 to $275.00 and gave the company an outperform rating in a research note on Friday, April 19th. Finally, Evercore ISI lowered their target price on shares of Tractor Supply from $280.00 to $275.00 and set an outperform rating on the stock in a research note on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $241.65.

Tractor Supply Stock Performance

Shares of NASDAQ:TSCO opened at $255.74 on Thursday. The company has a market capitalization of $27.60 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 3.84 and a beta of 0.84. Tractor Supply has a 12 month low of $185.00 and a 12 month high of $268.02. The firm’s 50-day moving average is $251.14 and its 200 day moving average is $225.83. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82.

Tractor Supply (NASDAQ:TSCO) last issued its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.06. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 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 down 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 EPS. Research analysts predict that Tractor Supply will post 10.2 EPS for the current year.

Tractor Supply Increases Dividend

The business also recently announced 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 an increase from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio is currently 43.61%.

Insider Transactions at Tractor Supply

In other news, EVP Colin Yankee sold 8,675 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the completion of the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kurt D. Barton sold 401 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the completion of the sale, the chief financial officer now owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Colin Yankee sold 8,675 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total transaction of $2,168,750.00. Following the completion of the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The disclosure for this sale can be found here. In the last quarter, 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.