Research Analysts Issue Forecasts for Tractor Supply’s Q2 2024 Earnings (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCO) – Analysts at Wedbush upped their Q2 2024 earnings per share estimates for Tractor Supply in a report released on Friday, April 26th. Wedbush analyst S. Basham now anticipates that the specialty retailer will post earnings of $4.00 per share for the quarter, up from their prior estimate of $3.96. Wedbush has a “Neutral” rating and a $235.00 price objective on the stock. The consensus estimate for Tractor Supply’s current full-year earnings is $10.26 per share. Wedbush also issued estimates for Tractor Supply’s Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.38 EPS, FY2024 earnings at $10.42 EPS and FY2025 earnings at $11.59 EPS.

Several other equities analysts have also commented on TSCO. Barclays upped their price target on Tractor Supply from $234.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. UBS Group raised their price target on shares of Tractor Supply from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Tractor Supply in a research report on Thursday, April 25th. Raymond James boosted their price objective on Tractor Supply from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Guggenheim raised their target price on shares of Tractor Supply from $210.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $250.00.

Tractor Supply Stock Performance

Tractor Supply stock opened at $273.08 on Monday. The firm has a 50 day simple moving average of $253.27 and a 200-day simple moving average of $227.47. The stock has a market cap of $29.47 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.40 and a quick ratio of 0.19. Tractor Supply has a 1-year low of $185.00 and a 1-year high of $279.38.

Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings results on Thursday, April 25th. The specialty retailer reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.13. Tractor Supply had a net margin of 7.66% and a return on equity of 52.99%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The company’s revenue was up 2.8% compared to the same quarter last year.

Institutional Investors Weigh In On Tractor Supply

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in shares of Tractor Supply during the 3rd quarter worth $25,000. Future Financial Wealth Managment LLC purchased a new stake in Tractor Supply during the first quarter worth about $26,000. Private Wealth Management Group LLC acquired a new position in Tractor Supply during the fourth quarter worth about $27,000. Pinnacle Bancorp Inc. purchased a new position in Tractor Supply in the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC lifted its position in shares of Tractor Supply by 157.1% during the 1st quarter. Rise Advisors LLC now owns 108 shares of the specialty retailer’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

Insider Buying and Selling

In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $250.00, for a total value of $2,168,750.00. Following the transaction, the executive vice president now directly owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tractor Supply news, EVP Colin Yankee sold 8,675 shares of Tractor Supply stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $250.00, for a total value of $2,168,750.00. Following the sale, the executive vice president now owns 9,673 shares of the company’s stock, valued at approximately $2,418,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kurt D. Barton sold 401 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $232.06, for a total value of $93,056.06. Following the transaction, the chief financial officer now directly owns 25,013 shares of the company’s stock, valued at $5,804,516.78. The disclosure for this sale can be found here. Insiders sold a total of 90,090 shares of company stock valued at $21,201,877 over the last three months. 0.58% of the stock is currently owned by company insiders.

Tractor Supply Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Friday, February 23rd. This is a boost from Tractor Supply’s previous quarterly dividend of $1.03. Tractor Supply’s dividend payout ratio is 42.84%.

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.