$2.00 Billion in Sales Expected for Tractor Supply (NASDAQ:TSCO) This Quarter

Wall Street brokerages expect that Tractor Supply (NASDAQ:TSCO) will post sales of $2.00 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Tractor Supply’s earnings, with estimates ranging from $1.98 billion to $2.01 billion. Tractor Supply posted sales of $1.88 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The company is expected to announce its next earnings results on Thursday, October 24th.

On average, analysts expect that Tractor Supply will report full-year sales of $8.44 billion for the current financial year, with estimates ranging from $8.39 billion to $8.46 billion. For the next year, analysts anticipate that the company will report sales of $8.99 billion, with estimates ranging from $8.87 billion to $9.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Tractor Supply.

Tractor Supply (NASDAQ:TSCO) last released its quarterly earnings data on Thursday, July 25th. The specialty retailer reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Tractor Supply had a net margin of 6.71% and a return on equity of 36.12%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 earnings per share.

Several research firms have issued reports on TSCO. Telsey Advisory Group reiterated a “market perform” rating and issued a $113.00 target price (up previously from $103.00) on shares of Tractor Supply in a research note on Friday, July 26th. ValuEngine lowered Tractor Supply from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Northcoast Research lowered Tractor Supply from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada set a $123.00 target price on Tractor Supply and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Goldman Sachs Group began coverage on Tractor Supply in a research note on Thursday, July 11th. They issued a “buy” rating and a $122.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $107.82.

Shares of TSCO stock traded up $0.13 on Friday, hitting $101.45. The stock had a trading volume of 731,681 shares, compared to its average volume of 1,313,629. The company has a quick ratio of 0.16, a current ratio of 1.52 and a debt-to-equity ratio of 1.57. The business has a 50 day moving average price of $108.21 and a 200 day moving average price of $101.84. The company has a market cap of $12.07 billion, a PE ratio of 23.54, a P/E/G ratio of 1.90 and a beta of 1.10. Tractor Supply has a one year low of $78.67 and a one year high of $114.25.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, August 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. Tractor Supply’s payout ratio is 32.48%.

In related news, COO Steve K. Barbarick sold 36,108 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $104.10, for a total value of $3,758,842.80. Following the sale, the chief operating officer now owns 60,258 shares in the company, valued at $6,272,857.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Chad Michael Frazell sold 17,857 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $110.04, for a total value of $1,964,984.28. Following the completion of the sale, the senior vice president now owns 31,004 shares in the company, valued at approximately $3,411,680.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,933 shares of company stock worth $6,865,486. 1.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Natixis boosted its position in Tractor Supply by 51.8% in the second quarter. Natixis now owns 84,431 shares of the specialty retailer’s stock valued at $9,186,000 after buying an additional 28,799 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in Tractor Supply by 23.5% in the second quarter. Chartwell Investment Partners LLC now owns 14,606 shares of the specialty retailer’s stock valued at $1,589,000 after buying an additional 2,780 shares during the last quarter. Colony Group LLC purchased a new stake in Tractor Supply in the second quarter valued at approximately $221,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in Tractor Supply by 11.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 261,649 shares of the specialty retailer’s stock valued at $28,467,000 after buying an additional 27,888 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in Tractor Supply in the second quarter valued at approximately $891,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

About Tractor Supply

Tractor Supply Company operates rural lifestyle retail stores 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.

See Also: Why does a company issue an IPO?

Get a free copy of the Zacks research report on Tractor Supply (TSCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Tractor Supply Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tractor Supply and related companies with MarketBeat.com's FREE daily email newsletter.