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

Tractor Supply (NASDAQ:TSCO - Get Free Report) 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 Price Performance

Shares of NASDAQ:TSCO traded up $7.13 during midday trading on Thursday, reaching $265.26. 2,295,194 shares of the company were exchanged, compared to its average volume of 1,167,099. The company has a current ratio of 1.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.82. The business's fifty day moving average is $251.70 and its two-hundred day moving average is $226.10. Tractor Supply has a one year low of $185.00 and a one year high of $268.02. The stock has a market cap of $28.63 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.84 and a beta of 0.84.

Tractor Supply (NASDAQ:TSCO - Get Free Report) last issued its earnings results on Thursday, February 1st. The specialty retailer reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $2.22 by $0.06. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business earned $2.43 earnings per share. Tractor Supply's revenue for the quarter was down 8.6% on a year-over-year basis. As a group, analysts predict that Tractor Supply will post 10.2 earnings per share for the current year.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a dividend of $1.10 per share. 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. This represents a $4.40 dividend on an annualized basis and a yield of 1.66%. Tractor Supply's dividend payout ratio is presently 43.61%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSCO. Truist Financial upped their price target on shares of Tractor Supply from $256.00 to $277.00 and gave the company a buy rating in a research note on Tuesday, April 2nd. Barclays upped their price target on shares of Tractor Supply from $192.00 to $234.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. Wells Fargo & Company upped their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an overweight rating in a research note on Monday, March 25th. Evercore ISI decreased their price target on shares of Tractor Supply from $280.00 to $275.00 and set an outperform rating on the stock in a research note on Tuesday, April 16th. Finally, Guggenheim upped their price target on shares of Tractor Supply from $210.00 to $255.00 and gave the company a buy rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $241.65.

Insider Activity at Tractor Supply

In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company's stock, valued at approximately $5,804,516.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tractor Supply news, CFO Kurt D. Barton sold 401 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $232.06, for a total transaction of $93,056.06. Following the transaction, the chief financial officer now owns 25,013 shares of the company's stock, valued at approximately $5,804,516.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew L. Rubin sold 725 shares of the firm's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $238.09, for a total transaction of $172,615.25. Following the transaction, the senior vice president now directly owns 5,710 shares in the company, valued at approximately $1,359,493.90. The disclosure for this sale can be found here. Insiders sold 90,090 shares of company stock worth $21,201,877 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

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.