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Tractor Supply (TSCO) Gains As Market Dips: What You Should Know
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Tractor Supply (TSCO - Free Report) closed at $237.95 in the latest trading session, marking a +0.8% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the retailer for farmers and ranchers had gained 0.31% in the past month. In that same time, the Retail-Wholesale sector gained 6.29%, while the S&P 500 gained 7.71%.
Investors will be hoping for strength from Tractor Supply as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Tractor Supply is projected to report earnings of $1.69 per share, which would represent year-over-year growth of 2.42%. Our most recent consensus estimate is calling for quarterly revenue of $3.3 billion, up 9.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.46 per share and revenue of $15.22 billion, which would represent changes of +7.72% and +7.17%, respectively, from the prior year.
Any recent changes to analyst estimates for Tractor Supply should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Tractor Supply is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Tractor Supply is holding a Forward P/E ratio of 22.56. Its industry sports an average Forward P/E of 12.07, so we one might conclude that Tractor Supply is trading at a premium comparatively.
We can also see that TSCO currently has a PEG ratio of 2.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Miscellaneous was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Tractor Supply (TSCO) Gains As Market Dips: What You Should Know
Tractor Supply (TSCO - Free Report) closed at $237.95 in the latest trading session, marking a +0.8% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.21%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the retailer for farmers and ranchers had gained 0.31% in the past month. In that same time, the Retail-Wholesale sector gained 6.29%, while the S&P 500 gained 7.71%.
Investors will be hoping for strength from Tractor Supply as it approaches its next earnings release, which is expected to be April 27, 2023. On that day, Tractor Supply is projected to report earnings of $1.69 per share, which would represent year-over-year growth of 2.42%. Our most recent consensus estimate is calling for quarterly revenue of $3.3 billion, up 9.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.46 per share and revenue of $15.22 billion, which would represent changes of +7.72% and +7.17%, respectively, from the prior year.
Any recent changes to analyst estimates for Tractor Supply should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Tractor Supply is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Tractor Supply is holding a Forward P/E ratio of 22.56. Its industry sports an average Forward P/E of 12.07, so we one might conclude that Tractor Supply is trading at a premium comparatively.
We can also see that TSCO currently has a PEG ratio of 2.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Retail - Miscellaneous was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.