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

Tractor Supply (NASDAQ:TSCO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.100-10.400 for the period, compared to the consensus EPS estimate of 10.280. The company issued revenue guidance of $14.9 billion-$15.0 billion, compared to the consensus revenue estimate of $14.9 billion. Tractor Supply also updated its FY24 guidance to $10.10-10.40 EPS.

Tractor Supply Stock Down 6.1 %

Shares of TSCO stock traded down $17.80 during trading on Thursday, hitting $274.29. 2,218,972 shares of the company were exchanged, compared to its average volume of 1,053,800. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.25 and a current ratio of 1.43. The firm has a market capitalization of $29.59 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 3.66 and a beta of 0.80. The business’s 50-day simple moving average is $281.82 and its 200 day simple moving average is $272.88. Tractor Supply has a twelve month low of $185.00 and a twelve month high of $307.64.

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

Tractor Supply Dividend Announcement

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

Wall Street Analysts Forecast Growth

TSCO has been the subject of a number of analyst reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $335.00 target price on shares of Tractor Supply in a research note on Thursday. Evercore ISI lowered shares of Tractor Supply from an “outperform” rating to an “in-line” rating and set a $300.00 price target on the stock. in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on shares of Tractor Supply from $295.00 to $325.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Benchmark reissued a “buy” rating and issued a $280.00 price target on shares of Tractor Supply in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.50.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 23,532 shares of the firm’s 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 transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Kurt D. Barton sold 23,532 shares of the firm’s 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 transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at approximately $2,862,682.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew L. Rubin sold 540 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 5,170 shares in the company, valued at $1,356,349.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.