Tractor Supply Company (TSCO) Expected to Post Quarterly Sales of $2.04 Billion
Wall Street brokerages expect Tractor Supply Company (NASDAQ:TSCO) to announce sales of $2.04 billion for the current quarter, according to Zacks. Eight analysts have made estimates for Tractor Supply Company’s earnings. The highest sales estimate is $2.07 billion and the lowest is $2.03 billion. Tractor Supply Company posted sales of $1.85 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The firm is expected to issue its next earnings report after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that Tractor Supply Company will report full year sales of $2.04 billion for the current financial year, with estimates ranging from $7.22 billion to $7.28 billion. For the next year, analysts expect that the business will report sales of $7.71 billion per share, with estimates ranging from $7.23 billion to $7.85 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Tractor Supply Company.
Tractor Supply Company (NASDAQ:TSCO) last released its earnings results on Wednesday, April 26th. The specialty retailer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Tractor Supply Company had a return on equity of 30.29% and a net margin of 6.45%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis.
Several equities research analysts have commented on TSCO shares. Wedbush reiterated an “outperform” rating and set a $85.00 price objective on shares of Tractor Supply Company in a research note on Sunday, February 5th. TheStreet lowered Tractor Supply Company from a “b” rating to a “c+” rating in a research note on Wednesday, April 12th. Stephens lowered Tractor Supply Company from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective for the company. in a research note on Wednesday, April 12th. Zacks Investment Research lowered Tractor Supply Company from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. Finally, Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Tractor Supply Company in a research note on Friday, April 14th. Eighteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $82.74.
In related news, CMO Steve K. Barbarick sold 15,014 shares of the stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $72.59, for a total value of $1,089,866.26. Following the completion of the transaction, the chief marketing officer now directly owns 65,450 shares in the company, valued at $4,751,015.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in Tractor Supply Company by 3.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,586,228 shares of the specialty retailer’s stock worth $1,184,432,000 after buying an additional 592,472 shares during the period. Vanguard Group Inc. boosted its position in Tractor Supply Company by 2.8% in the first quarter. Vanguard Group Inc. now owns 12,348,781 shares of the specialty retailer’s stock worth $851,697,000 after buying an additional 341,446 shares during the period. BlackRock Inc. boosted its position in Tractor Supply Company by 2,934.4% in the first quarter. BlackRock Inc. now owns 7,835,590 shares of the specialty retailer’s stock worth $540,419,000 after buying an additional 7,577,362 shares during the period. Bank of New York Mellon Corp boosted its position in Tractor Supply Company by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 6,386,058 shares of the specialty retailer’s stock worth $440,447,000 after buying an additional 425,355 shares during the period. Finally, State Street Corp boosted its position in Tractor Supply Company by 4.2% in the first quarter. State Street Corp now owns 5,695,059 shares of the specialty retailer’s stock worth $392,790,000 after buying an additional 230,443 shares during the period. Institutional investors own 86.37% of the company’s stock.
Shares of Tractor Supply Company (NASDAQ:TSCO) opened at 54.88 on Friday. The stock has a market cap of $7.06 billion, a PE ratio of 16.94 and a beta of 1.24. Tractor Supply Company has a 52-week low of $52.85 and a 52-week high of $97.00. The company’s 50 day moving average price is $61.71 and its 200 day moving average price is $70.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Monday, May 22nd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.97%. This is a positive change from Tractor Supply Company’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, May 18th. Tractor Supply Company’s dividend payout ratio is presently 29.36%.
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About Tractor Supply Company
Tractor Supply Company is an operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and others, as well as tradesmen and small businesses. It is engaged in the retail sale of products that support the rural lifestyle.
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