Tractor Supply (NASDAQ:TSCO) Posts Earnings Results, Meets Expectations

Tractor Supply (NASDAQ:TSCO) posted its earnings results on Thursday. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93, RTT News reports. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the company posted $3.83 EPS. 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 Stock Up 2.0 %

NASDAQ:TSCO traded up $5.08 during mid-day trading on Friday, reaching $262.52. The company’s stock had a trading volume of 971,420 shares, compared to its average volume of 1,075,755. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $290.38. The stock has a fifty day moving average of $273.49 and a 200-day moving average of $257.23. The firm has a market capitalization of $28.30 billion, a PE ratio of 25.56, a price-to-earnings-growth ratio of 3.37 and a beta of 0.81. The company has a quick ratio of 0.19, a current ratio of 1.43 and a debt-to-equity ratio of 0.76.

Tractor Supply Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Truist Financial increased their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday. Raymond James increased their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler increased their price target on shares of Tractor Supply from $265.00 to $300.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Tractor Supply from $241.00 to $263.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Hold” and an average 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.