Tractor Supply (NASDAQ:TSCO) Releases 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 10.100-10.400 for the period, compared to the consensus 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 %

TSCO stock traded down $17.80 during mid-day 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 cap of $29.59 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.66 and a beta of 0.80. The firm’s 50 day simple moving average is $281.82 and its 200 day simple moving average is $272.88. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $307.64.

Tractor Supply (NASDAQ:TSCO) last announced its earnings results on Thursday, July 25th. The specialty retailer reported $3.93 EPS for the quarter, hitting the consensus estimate of $3.93. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.28 billion. Tractor Supply had a net margin of 7.65% and a return on equity of 51.84%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $3.83 EPS. On average, sell-side analysts predict that Tractor Supply will post 10.23 EPS for the current fiscal year.

Tractor Supply Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSCO shares. Wedbush reiterated a “neutral” rating and issued a $270.00 price objective on shares of Tractor Supply in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of Tractor Supply from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler lifted their price objective on shares of Tractor Supply from $300.00 to $332.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Benchmark reiterated a “buy” rating and issued a $280.00 price objective on shares of Tractor Supply in a report on Monday. Finally, Loop Capital lifted their price objective on shares of Tractor Supply from $250.00 to $260.00 and gave the company a “hold” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.50.

Insiders Place Their Bets

In other Tractor Supply news, SVP Matthew L. Rubin sold 540 shares of Tractor Supply stock in a transaction on 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 of the company’s stock, valued at $1,356,349.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Kurt D. Barton sold 23,532 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $295.64, for a total value of $6,957,000.48. Following the completion of the transaction, the chief financial officer now owns 9,683 shares of the company’s stock, valued at $2,862,682.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Matthew L. Rubin sold 540 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $262.35, for a total value of $141,669.00. Following the transaction, the senior vice president now directly owns 5,170 shares of the company’s stock, valued at approximately $1,356,349.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Tractor Supply Company Profile

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.