Brokerages Anticipate Casey’s General Stores Inc (CASY) Will Announce Quarterly Sales of $2.52 Billion

Wall Street brokerages expect that Casey’s General Stores Inc (NASDAQ:CASY) will report sales of $2.52 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Casey’s General Stores’ earnings. The highest sales estimate is $2.60 billion and the lowest is $2.45 billion. Casey’s General Stores reported sales of $2.15 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 17.2%. The firm is expected to report its next earnings report on Monday, December 10th.

According to Zacks, analysts expect that Casey’s General Stores will report full-year sales of $9.84 billion for the current year, with estimates ranging from $9.66 billion to $9.97 billion. For the next fiscal year, analysts anticipate that the company will post sales of $10.75 billion, with estimates ranging from $10.54 billion to $11.17 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, September 10th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.23. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The company’s revenue for the quarter was up 23.6% on a year-over-year basis.

Several equities analysts have weighed in on CASY shares. BidaskClub raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. ValuEngine raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Wednesday, August 22nd. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 23rd. Royal Bank of Canada set a $130.00 price target on shares of Casey’s General Stores and gave the company a “hold” rating in a report on Wednesday, September 12th. Finally, Jefferies Financial Group set a $134.00 price target on shares of Casey’s General Stores and gave the company a “buy” rating in a report on Wednesday, August 22nd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $132.78.

In other news, SVP Brian Joseph Johnson sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $127.43, for a total value of $191,145.00. Following the transaction, the senior vice president now owns 10,471 shares of the company’s stock, valued at $1,334,319.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kwmg LLC bought a new stake in Casey’s General Stores in the second quarter worth $106,000. Cerebellum GP LLC bought a new stake in Casey’s General Stores in the second quarter worth $142,000. Crossmark Global Holdings Inc. bought a new stake in Casey’s General Stores in the second quarter worth $204,000. Aristotle Atlantic Partners LLC increased its position in Casey’s General Stores by 33.1% in the first quarter. Aristotle Atlantic Partners LLC now owns 2,426 shares of the company’s stock worth $266,000 after purchasing an additional 603 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Casey’s General Stores in the third quarter worth $310,000. Institutional investors own 95.72% of the company’s stock.

NASDAQ:CASY traded up $0.18 during trading hours on Wednesday, hitting $123.58. 304,200 shares of the stock traded hands, compared to its average volume of 462,227. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.27. Casey’s General Stores has a 1 year low of $90.42 and a 1 year high of $130.74. The company has a market capitalization of $4.72 billion, a P/E ratio of 32.31, a P/E/G ratio of 3.05 and a beta of 0.49.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is presently 30.45%.

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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