Tractor Supply (NASDAQ:TSCO) Updates FY 2024 Earnings Guidance

Tractor Supply (NASDAQ:TSCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 9.850-10.500 for the period, compared to the consensus 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.

Tractor Supply Stock Down 0.9 %

Shares of Tractor Supply stock opened at $255.74 on Thursday. The company has a market cap of $27.60 billion, a P/E ratio of 25.58, a PEG ratio of 3.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.28 and a current ratio of 1.50. Tractor Supply has a one year low of $185.00 and a one year high of $268.02. The firm has a fifty day moving average of $251.14 and a two-hundred day moving average of $225.83.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data 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 company had revenue of $3.66 billion during 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%. Tractor Supply’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.43 EPS. On average, analysts forecast that Tractor Supply will post 10.2 earnings per share for the current year.

Tractor Supply Increases Dividend

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

Wall Street Analyst Weigh In

TSCO has been the topic of a number of recent analyst reports. Guggenheim upped their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Truist Financial upped their price target on shares of Tractor Supply from $256.00 to $277.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Wedbush reaffirmed a neutral rating and set a $235.00 price target on shares of Tractor Supply in a research note on Tuesday. Raymond James cut shares of Tractor Supply from a strong-buy rating to an outperform rating and upped their price target for the stock from $230.00 to $250.00 in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Tractor Supply from $230.00 to $262.00 and gave the stock a buy rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tractor Supply presently has an average rating of Hold and an average price target of $241.65.

Insider Buying and Selling at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total value of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kurt D. Barton sold 4,335 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $257.00, for a total transaction of $1,114,095.00. Following the transaction, the chief financial officer now directly owns 20,678 shares in the company, valued at approximately $5,314,246. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Colin Yankee sold 8,675 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 9,673 shares in the company, valued at $2,418,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,090 shares of company stock worth $21,201,877. Corporate 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.