Tractor Supply (NASDAQ:TSCO) Issues Quarterly Earnings Results

Tractor Supply (NASDAQ:TSCO) issued its earnings results on Thursday. The specialty retailer reported $3.93 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business posted $3.83 earnings per share. The firm’s revenue for the quarter 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 %

TSCO traded up $5.08 during trading hours on Friday, reaching $262.52. 971,420 shares of the stock traded hands, compared to its average volume of 1,075,755. Tractor Supply has a fifty-two week low of $185.00 and a fifty-two week 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. The company has a market cap of $28.30 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 3.37 and a beta of 0.81. The firm’s fifty day simple moving average is $273.49 and its two-hundred day simple moving average is $257.23.

Tractor Supply Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSCO. Morgan Stanley upped their price target on shares of Tractor Supply from $195.00 to $235.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Truist Financial upped their price target on shares of Tractor Supply from $289.00 to $293.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Tractor Supply from $241.00 to $263.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price target on shares of Tractor Supply in a report on Thursday. Finally, Raymond James upped their price target on shares of Tractor Supply from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.