Tractor Supply (NASDAQ:TSCO) Releases Earnings Results, Hits Estimates

Tractor Supply (NASDAQ:TSCO) released its quarterly earnings data on Thursday. The specialty retailer reported $3.93 EPS for the quarter, meeting analysts’ consensus estimates of $3.93, RTT News reports. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the business earned $3.83 earnings per share. Tractor Supply’s revenue was up 1.6% compared to the same quarter last year. Tractor Supply updated its FY24 guidance to $10.00-$10.40 EPS and its FY 2024 guidance to 10.000-10.400 EPS.

Tractor Supply Stock Up 2.0 %

Tractor Supply stock traded up $5.08 during mid-day trading on Friday, reaching $262.52. The stock had a trading volume of 971,420 shares, compared to its average volume of 1,075,755. The company has a market capitalization of $28.30 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 3.43 and a beta of 0.81. The company has a 50-day moving average price of $273.49 and a two-hundred day moving average price of $257.49. Tractor Supply has a one year low of $185.00 and a one year high of $290.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.43 and a quick ratio of 0.19.

Tractor Supply Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, May 24th. Tractor Supply’s payout ratio is 42.84%.

Analysts Set New Price Targets

TSCO has been the subject of several research analyst reports. Morgan Stanley lifted their target price on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Tractor Supply in a research report on Thursday. Wells Fargo & Company lifted their price target on shares of Tractor Supply from $285.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, July 22nd. Mizuho reaffirmed a “neutral” rating and issued a $250.00 target price (up from $245.00) on shares of Tractor Supply in a research note on Friday, April 26th. Finally, Barclays lifted their target price on shares of Tractor Supply from $234.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $256.58.

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.