Zacks: Analysts Expect Casey’s General Stores Inc (NASDAQ:CASY) Will Post Quarterly Sales of $2.61 Billion

Brokerages predict that Casey’s General Stores Inc (NASDAQ:CASY) will announce $2.61 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for Casey’s General Stores’ earnings, with the lowest sales estimate coming in at $2.51 billion and the highest estimate coming in at $2.72 billion. Casey’s General Stores posted sales of $2.59 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The firm is scheduled to announce its next earnings results on Monday, September 9th.

On average, analysts expect that Casey’s General Stores will report full-year sales of $9.80 billion for the current fiscal year, with estimates ranging from $9.26 billion to $10.32 billion. For the next year, analysts anticipate that the firm will post sales of $10.70 billion, with estimates ranging from $9.80 billion to $11.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, June 10th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.27. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.13 billion. Casey’s General Stores had a net margin of 2.18% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS.

Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Deutsche Bank raised their price objective on shares of Casey’s General Stores from $147.00 to $166.00 and gave the stock a “buy” rating in a report on Monday, June 17th. BMO Capital Markets lifted their price target on shares of Casey’s General Stores to $140.00 and gave the company a “market perform” rating in a report on Wednesday, June 12th. Barclays lifted their price target on shares of Casey’s General Stores from $123.00 to $140.00 and gave the company an “equal weight” rating in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Casey’s General Stores from $140.00 to $152.00 and gave the company a “neutral” rating in a report on Friday, June 14th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $151.90.

Shares of CASY stock opened at $166.86 on Friday. The firm has a market cap of $6.10 billion, a P/E ratio of 30.28, a P/E/G ratio of 3.19 and a beta of 0.58. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.69 and a quick ratio of 0.23. Casey’s General Stores has a 1-year low of $112.16 and a 1-year high of $169.35. The firm has a fifty day moving average of $161.45 and a two-hundred day moving average of $140.78.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were issued a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 0.77%. Casey’s General Stores’s payout ratio is 23.23%.

In other news, SVP Brian Joseph Johnson sold 4,000 shares of Casey’s General Stores stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $156.48, for a total value of $625,920.00. Following the completion of the transaction, the senior vice president now directly owns 14,817 shares of the company’s stock, valued at approximately $2,318,564.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terry W. Handley sold 8,106 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $149.67, for a total transaction of $1,213,225.02. The disclosure for this sale can be found here. Insiders sold a total of 35,106 shares of company stock valued at $5,292,595 over the last ninety days. Company insiders own 0.41% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CASY. Krane Funds Advisors LLC acquired a new position in Casey’s General Stores during the 2nd quarter valued at about $26,000. FinTrust Capital Advisors LLC acquired a new position in Casey’s General Stores during the 1st quarter valued at about $29,000. Advisory Services Network LLC boosted its stake in Casey’s General Stores by 119.3% during the 2nd quarter. Advisory Services Network LLC now owns 193 shares of the company’s stock valued at $31,000 after purchasing an additional 105 shares during the period. Valeo Financial Advisors LLC boosted its stake in Casey’s General Stores by 2,500.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 312 shares of the company’s stock valued at $40,000 after purchasing an additional 300 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Casey’s General Stores by 170.3% during the 1st quarter. Quadrant Capital Group LLC now owns 346 shares of the company’s stock valued at $42,000 after purchasing an additional 218 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Earnings History and Estimates for Casey`s General Stores (NASDAQ:CASY)

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