Tractor Supply (NASDAQ:TSCO) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Tractor Supply (NASDAQ:TSCO) released its quarterly earnings data on Thursday. The specialty retailer reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.13, Briefing.com reports. Tractor Supply had a net margin of 7.61% and a return on equity of 53.60%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Tractor Supply updated its FY24 guidance to $9.85-10.50 EPS and its FY 2024 guidance to 9.850-10.500 EPS.

Tractor Supply Price Performance

Shares of Tractor Supply stock traded up $8.64 during trading on Friday, hitting $273.90. 1,599,523 shares of the company were exchanged, compared to its average volume of 1,172,440. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week high of $274.66. The company has a quick ratio of 0.28, a current ratio of 1.50 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average price of $251.70 and a 200 day moving average price of $226.10. The stock has a market capitalization of $29.56 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 3.88 and a beta of 0.84.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were given a $1.10 dividend. The ex-dividend date was Friday, February 23rd. This is a positive change from Tractor Supply’s previous quarterly dividend of $1.03. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. Tractor Supply’s dividend payout ratio is currently 43.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $256.00 price objective on shares of Tractor Supply in a report on Monday. Morgan Stanley increased their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the stock an “underweight” rating in a research note on Friday. Evercore ISI lifted their price objective on shares of Tractor Supply from $275.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday. TD Cowen increased their target price on shares of Tractor Supply from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stephens cut Tractor Supply from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $226.00 to $240.00 in a research report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $248.17.

Insider Buying and Selling at Tractor Supply

In other news, CEO Harry A. Lawton III sold 20,500 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $232.93, for a total value of $4,775,065.00. Following the completion of the transaction, the chief executive officer now directly owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tractor Supply news, CFO Kurt D. Barton sold 4,335 shares of the firm’s 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 sale, the chief financial officer now directly owns 20,678 shares of the company’s stock, valued at approximately $5,314,246. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Harry A. Lawton III sold 20,500 shares of Tractor Supply stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $232.93, for a total transaction of $4,775,065.00. Following the sale, the chief executive officer now owns 95,192 shares of the company’s stock, valued at $22,173,072.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,090 shares of company stock worth $21,201,877. 0.24% of the stock is owned by 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.