Tractor Supply (NASDAQ:TSCO) Releases FY24 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $9.85-10.50 for the period, compared to the consensus earnings per share estimate of $10.24. The company issued revenue guidance of $14.7-15.1 billion, compared to the consensus revenue estimate of $14.99 billion. Tractor Supply also updated its FY 2024 guidance to 9.850-10.500 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their target price on Tractor Supply from $277.00 to $289.00 and gave the stock a buy rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the stock an overweight rating in a report on Monday, March 25th. Barclays lifted their price target on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an equal weight rating in a report on Friday. Stephens cut shares of Tractor Supply from an overweight rating to an equal weight rating and lifted their price target for the stock from $226.00 to $240.00 in a report on Tuesday, January 23rd. Finally, Telsey Advisory Group reaffirmed an outperform rating and issued a $275.00 price target on shares of Tractor Supply in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $248.17.

Tractor Supply Stock Up 3.3 %

Shares of NASDAQ:TSCO opened at $273.90 on Friday. Tractor Supply has a 52-week low of $185.00 and a 52-week high of $274.66. The firm has a fifty day moving average of $252.44 and a 200 day moving average of $226.74. The firm has a market capitalization of $29.56 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 4.10 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.28 and a current ratio of 1.40.

Tractor Supply (NASDAQ:TSCO) last posted its quarterly earnings results 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 net margin of 7.66% and a return on equity of 52.99%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Tractor Supply will post 10.26 EPS for the current fiscal year.

Tractor Supply Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. This is an increase from Tractor Supply’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 23rd. Tractor Supply’s dividend payout ratio is 42.84%.

Insider Activity

In other news, CEO Harry A. Lawton III sold 20,500 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the completion of the transaction, 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 is accessible through this hyperlink. In related news, CEO Harry A. Lawton III sold 20,500 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jonathan S. Estep sold 7,120 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.26, for a total transaction of $1,653,691.20. Following the completion of the transaction, the executive vice president now directly owns 13,605 shares of the company’s stock, valued at $3,159,897.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,090 shares of company stock valued at $21,201,877. Insiders own 0.24% of the company’s stock.

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.