Tractor Supply to Post Q2 2023 Earnings of $3.95 Per Share, Oppenheimer Forecasts (NASDAQ:TSCO)

Posted by on May 4th, 2023

Tractor Supply (NASDAQ:TSCO – Get Rating) – Research analysts at Oppenheimer raised their Q2 2023 earnings per share estimates for Tractor Supply in a report released on Monday, May 1st. Oppenheimer analyst B. Nagel now anticipates that the specialty retailer will post earnings of $3.95 per share for the quarter, up from their prior forecast of $3.86. The consensus estimate for Tractor Supply’s current full-year earnings is $10.47 per share. Oppenheimer also issued estimates for Tractor Supply’s Q3 2023 earnings at $2.27 EPS, Q4 2023 earnings at $2.46 EPS, FY2023 earnings at $10.34 EPS, FY2024 earnings at $11.12 EPS and FY2025 earnings at $12.12 EPS.

Tractor Supply (NASDAQ:TSCO – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The specialty retailer reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.04). Tractor Supply had a net margin of 7.49% and a return on equity of 55.53%. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Tractor Supply’s quarterly revenue was up 9.1% compared to the same quarter last year.

Several other research analysts have also recently issued reports on the company. Cowen started coverage on Tractor Supply in a research report on Thursday, February 16th. They set a “market perform” rating and a $245.00 price objective for the company. Barclays started coverage on Tractor Supply in a research report on Tuesday, February 7th. They set an “overweight” rating and a $254.00 price objective for the company. Wedbush upped their price objective on Tractor Supply from $230.00 to $240.00 in a research report on Friday, April 28th. JPMorgan Chase & Co. upped their price objective on Tractor Supply from $219.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, January 27th. Finally, DA Davidson upped their price objective on Tractor Supply from $215.00 to $219.00 and gave the stock a “neutral” rating in a research report on Monday, January 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.62.

Tractor Supply Trading Up 0.6 %

TSCO opened at $243.31 on Wednesday. Tractor Supply has a 12 month low of $166.49 and a 12 month high of $251.17. The stock has a market capitalization of $26.74 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.40 and a beta of 0.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.47 and a quick ratio of 0.19. The business has a fifty day moving average price of $235.20 and a 200 day moving average price of $225.01.

Tractor Supply Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 27th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, February 24th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.92. Tractor Supply’s dividend payout ratio (DPR) is 42.43%.

Insider Buying and Selling at Tractor Supply

In other news, CFO Kurt D. Barton sold 10,020 shares of the business’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $2,316,724.20. Following the transaction, the chief financial officer now owns 37,152 shares in the company, valued at approximately $8,589,913.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Kurt D. Barton sold 10,020 shares of Tractor Supply stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $231.21, for a total transaction of $2,316,724.20. Following the sale, the chief financial officer now directly owns 37,152 shares in the company, valued at approximately $8,589,913.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Melissa Kersey sold 1,700 shares of Tractor Supply stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $237.57, for a total transaction of $403,869.00. Following the sale, the executive vice president now owns 8,051 shares in the company, valued at $1,912,676.07. The disclosure for this sale can be found here. Insiders sold 39,426 shares of company stock valued at $9,174,310 in the last quarter. Company insiders own 0.24% of the company’s stock.

Institutional Investors Weigh In On Tractor Supply

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Tractor Supply by 0.4% during the first quarter. Vanguard Group Inc. now owns 12,833,541 shares of the specialty retailer’s stock worth $2,994,964,000 after acquiring an additional 46,672 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tractor Supply by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 2,358,089 shares of the specialty retailer’s stock worth $529,571,000 after purchasing an additional 71,025 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Tractor Supply by 84.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,159,008 shares of the specialty retailer’s stock worth $485,712,000 after purchasing an additional 985,799 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Tractor Supply by 1,426.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 1,706,997 shares of the specialty retailer’s stock worth $317,297,000 after purchasing an additional 1,595,151 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Tractor Supply by 30.8% during the fourth quarter. Morgan Stanley now owns 1,642,115 shares of the specialty retailer’s stock worth $369,427,000 after purchasing an additional 387,155 shares during the last quarter. Institutional investors own 84.13% of the company’s stock.

About Tractor Supply

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Tractor Supply Co engages in the retail sale of farm and ranch products. It operates retail farm & ranch stores and focuses on supplying the lifestyle needs of recreational farmers and ranchers, as well as tradesmen and small businesses. The firm operates the retail stores under the names: Tractor Supply Company, Orscheln Farm & Home, and Petsense.

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Earnings History and Estimates for Tractor Supply (NASDAQ:TSCO)

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