Wedbush Equities Analysts Cut Earnings Estimates for Tractor Supply Company (TSCO)
Tractor Supply Company (NASDAQ:TSCO) – Equities researchers at Wedbush dropped their Q2 2018 EPS estimates for Tractor Supply in a note issued to investors on Tuesday. Wedbush analyst S. Basham now expects that the specialty retailer will post earnings per share of $1.36 for the quarter, down from their previous forecast of $1.42. Wedbush has a “Outperform” rating and a $72.00 price objective on the stock. Wedbush also issued estimates for Tractor Supply’s Q3 2018 earnings at $0.74 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.58 EPS, FY2019 earnings at $3.99 EPS and FY2020 earnings at $4.45 EPS.
A number of other research firms have also recently commented on TSCO. Piper Jaffray Companies reaffirmed a “hold” rating and set a $57.00 price objective on shares of Tractor Supply in a research note on Friday, September 29th. UBS AG lowered shares of Tractor Supply from a “buy” rating to a “neutral” rating and increased their target price for the stock from $62.00 to $67.00 in a report on Monday. Robert W. Baird restated a “buy” rating and issued a $66.00 price objective on shares of Tractor Supply in a report on Wednesday. Zacks Investment Research upgraded shares of Tractor Supply from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, BMO Capital Markets raised their price objective on shares of Tractor Supply from $58.00 to $61.00 and gave the stock a “market perform” rating in a report on Wednesday, September 27th. Sixteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Tractor Supply currently has an average rating of “Hold” and an average price target of $70.35.
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Tractor Supply (NASDAQ:TSCO) traded down 0.072% during midday trading on Thursday, reaching $62.145. The company had a trading volume of 500,065 shares. Tractor Supply has a 52-week low of $49.87 and a 52-week high of $78.25. The company has a market cap of $7.87 billion, a PE ratio of 18.781 and a beta of 1.30. The company’s 50-day moving average is $60.12 and its 200 day moving average is $59.00.
Tractor Supply (NASDAQ:TSCO) last announced its quarterly earnings data on Wednesday, July 26th. The specialty retailer reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.02). Tractor Supply had a return on equity of 30.56% and a net margin of 6.16%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the business. Commonwealth Bank of Australia raised its stake in Tractor Supply by 15.4% during the second quarter. Commonwealth Bank of Australia now owns 2,377 shares of the specialty retailer’s stock worth $128,000 after purchasing an additional 317 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Tractor Supply during the second quarter valued at about $139,000. Koch Industries Inc. acquired a new stake in shares of Tractor Supply during the first quarter valued at about $216,000. Gofen & Glossberg LLC IL increased its position in shares of Tractor Supply by 6.7% during the first quarter. Gofen & Glossberg LLC IL now owns 3,165 shares of the specialty retailer’s stock valued at $218,000 after acquiring an additional 200 shares during the last quarter. Finally, Cleararc Capital Inc. increased its position in shares of Tractor Supply by 0.9% during the first quarter. Cleararc Capital Inc. now owns 3,199 shares of the specialty retailer’s stock valued at $221,000 after acquiring an additional 29 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, August 17th. Tractor Supply’s dividend payout ratio is currently 32.53%.
About Tractor Supply
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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