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 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.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSCO. Mizuho boosted their price objective on Tractor Supply from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday. Raymond James increased their price objective on Tractor Supply from $285.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday. Loop Capital lifted their target price on shares of Tractor Supply from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Wedbush reiterated a “neutral” rating and issued a $270.00 target price on shares of Tractor Supply in a research report on Friday. Finally, Truist Financial lowered their price target on shares of Tractor Supply from $325.00 to $317.00 and set a “buy” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $277.70.

Tractor Supply Stock Down 0.6 %

Shares of NASDAQ:TSCO opened at $272.77 on Friday. The firm has a market capitalization of $29.41 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 3.66 and a beta of 0.80. Tractor Supply has a 1 year low of $185.00 and a 1 year high of $307.64. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.25. The firm’s 50-day moving average is $282.24 and its two-hundred day moving average is $273.19.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, October 24th. The specialty retailer reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.01. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The firm had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.49 billion. Analysts predict that Tractor Supply will post 10.23 EPS for the current year.

Tractor Supply Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 26th were issued 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 1.61%. Tractor Supply’s dividend payout ratio (DPR) is presently 42.84%.

Insiders Place Their Bets

In other news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares in the company, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kurt D. Barton sold 23,532 shares of Tractor Supply stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 9,683 shares in the company, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were 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. This represents 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 owned by company insiders.

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.