Tractor Supply (NASDAQ:TSCO) Issues FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.10-10.40 for the period, compared to the consensus earnings per share estimate of $10.29. The company issued revenue guidance of $14.85-15.0 billion, compared to the consensus revenue estimate of $14.90 billion. Tractor Supply also updated its FY 2024 guidance to 10.100-10.400 EPS.

Tractor Supply Stock Performance

Shares of TSCO traded down $17.80 during trading hours on Thursday, reaching $274.29. 2,218,972 shares of the company traded hands, compared to its average volume of 1,053,800. The company has a quick ratio of 0.25, a current ratio of 1.43 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average price of $281.82 and a 200-day moving average price of $272.88. Tractor Supply has a 12-month low of $185.00 and a 12-month high of $307.64. The stock has a market capitalization of $29.59 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.66 and a beta of 0.80.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results on Thursday, July 25th. The specialty retailer reported $3.93 earnings per share for the quarter, meeting the consensus estimate of $3.93. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a return on equity of 51.84% and a net margin of 7.65%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.83 EPS. Equities analysts anticipate that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were given a $1.10 dividend. The ex-dividend date was Monday, August 26th. This represents a $4.40 dividend on an annualized basis and a yield of 1.60%. Tractor Supply’s dividend payout ratio is currently 42.43%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group raised shares of Tractor Supply from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Truist Financial upped their price target on shares of Tractor Supply from $293.00 to $325.00 and gave the company a “buy” rating in a report on Monday, October 14th. Melius Research initiated coverage on Tractor Supply in a research report on Monday, September 23rd. They set a “buy” rating and a $315.00 price target on the stock. Wells Fargo & Company boosted their price objective on Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their target price on Tractor Supply from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.50.

Insider Activity at Tractor Supply

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the completion of the sale, the senior vice president now directly owns 5,170 shares in the company, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the sale, the chief financial officer now directly owns 9,683 shares in the company, valued at $2,862,682.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total transaction of $141,669.00. Following the transaction, the senior vice president now owns 5,170 shares in the company, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.