Telsey Advisory Group Comments on Tractor Supply’s Q3 2022 Earnings (NASDAQ:TSCO)

Tractor Supply (NASDAQ:TSCOGet Rating) – Analysts at Telsey Advisory Group decreased their Q3 2022 earnings per share estimates for Tractor Supply in a research report issued on Friday, April 22nd. Telsey Advisory Group analyst J. Feldman now expects that the specialty retailer will post earnings of $2.13 per share for the quarter, down from their previous forecast of $2.16. Telsey Advisory Group currently has a “Outperform” rating and a $250.00 target price on the stock. Telsey Advisory Group also issued estimates for Tractor Supply’s Q4 2022 earnings at $2.35 EPS, FY2022 earnings at $9.65 EPS, Q1 2023 earnings at $1.80 EPS, Q2 2023 earnings at $3.85 EPS, Q3 2023 earnings at $2.37 EPS, Q4 2023 earnings at $2.41 EPS and FY2023 earnings at $10.42 EPS.

Tractor Supply (NASDAQ:TSCOGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.23. Tractor Supply had a net margin of 7.74% and a return on equity of 51.48%. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same period in the prior year, the company posted $1.55 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis.

TSCO has been the topic of several other reports. Piper Sandler upped their target price on shares of Tractor Supply from $258.00 to $261.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup increased their price target on shares of Tractor Supply from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial began coverage on shares of Tractor Supply in a research report on Thursday, January 13th. They issued a “buy” rating and a $270.00 price target on the stock. Robert W. Baird reiterated a “buy” rating and issued a $250.00 price target on shares of Tractor Supply in a research report on Thursday, April 14th. Finally, Oppenheimer upgraded shares of Tractor Supply from a “market perform” rating to an “outperform” rating and set a $270.00 price target on the stock in a research report on Friday, March 18th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $239.45.

Shares of TSCO opened at $206.65 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.51 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average is $222.79 and its two-hundred day moving average is $221.42. Tractor Supply has a twelve month low of $170.82 and a twelve month high of $241.54. The firm has a market capitalization of $23.17 billion, a P/E ratio of 23.70, a PEG ratio of 2.39 and a beta of 0.98.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 8th. Shareholders of record on Monday, February 21st were issued a dividend of $0.92 per share. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.52. This represents a $3.68 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, February 17th. Tractor Supply’s dividend payout ratio (DPR) is currently 42.20%.

In related news, CEO Harry A. Lawton III sold 20,049 shares of Tractor Supply stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $222.35, for a total value of $4,457,895.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Colin Yankee sold 6,659 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $217.64, for a total transaction of $1,449,264.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,031 shares of company stock valued at $6,416,873. 0.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New England Professional Planning Group Inc. purchased a new position in shares of Tractor Supply in the first quarter worth approximately $239,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Tractor Supply by 194.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 106 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 70 shares in the last quarter. Zullo Investment Group Inc. purchased a new position in shares of Tractor Supply in the fourth quarter worth approximately $26,000. Gradient Investments LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth approximately $28,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Tractor Supply in the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 84.26% of the company’s stock.

About Tractor Supply (Get Rating)

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers a selection of merchandise, including equine, livestock, pet, and small animal products necessary for their health, care, growth, and containment; hardware, truck, towing, and tool products; seasonal products, such as heating products, lawn and garden items, power equipment, gifts, and toys; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

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

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