Analysts Offer Predictions for Casey’s General Stores Inc’s Q3 2019 Earnings (CASY)

Casey’s General Stores Inc (NASDAQ:CASY) – Stock analysts at Jefferies Financial Group lifted their Q3 2019 earnings estimates for Casey’s General Stores in a research report issued on Tuesday, November 20th. Jefferies Financial Group analyst C. Mandeville now forecasts that the company will post earnings per share of $0.62 for the quarter, up from their previous forecast of $0.56. Jefferies Financial Group has a “Buy” rating and a $142.00 price objective on the stock. Jefferies Financial Group also issued estimates for Casey’s General Stores’ FY2019 earnings at $4.85 EPS, Q2 2020 earnings at $1.94 EPS, Q3 2020 earnings at $0.68 EPS, FY2021 earnings at $5.58 EPS and FY2022 earnings at $6.52 EPS.

A number of other research firms have also recently issued reports on CASY. BMO Capital Markets set a $125.00 price target on shares of Casey’s General Stores and gave the stock a “hold” rating in a report on Wednesday, September 12th. They noted that the move was a valuation call. Stephens set a $137.00 price target on shares of Casey’s General Stores and gave the stock a “buy” rating in a report on Wednesday, September 12th. Wells Fargo & Co raised their price target on shares of Casey’s General Stores from $97.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, September 12th. BidaskClub raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Friday, August 17th. Finally, Deutsche Bank raised their price target on shares of Casey’s General Stores to $142.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $133.89.

NASDAQ CASY opened at $125.46 on Wednesday. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 3.15 and a beta of 0.51. Casey’s General Stores has a 12-month low of $90.42 and a 12-month high of $133.07. 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 (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 10th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.23. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $1.46 earnings per share.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.92%. Casey’s General Stores’s payout ratio is currently 30.45%.

In other news, SVP Brian Joseph Johnson sold 1,500 shares of the 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 sale, the senior vice president now owns 10,471 shares in the company, valued at $1,334,319.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in CASY. Victory Capital Management Inc. acquired a new stake in shares of Casey’s General Stores in the third quarter worth $62,974,000. Hennessy Advisors Inc. acquired a new stake in shares of Casey’s General Stores in the third quarter worth $31,193,000. Epoch Investment Partners Inc. acquired a new stake in shares of Casey’s General Stores in the second quarter worth $25,147,000. Dimensional Fund Advisors LP increased its stake in shares of Casey’s General Stores by 43.1% in the second quarter. Dimensional Fund Advisors LP now owns 658,071 shares of the company’s stock worth $69,152,000 after acquiring an additional 198,263 shares during the period. Finally, Carillon Tower Advisers Inc. increased its stake in shares of Casey’s General Stores by 38.6% in the second quarter. Carillon Tower Advisers Inc. now owns 643,593 shares of the company’s stock worth $67,628,000 after acquiring an additional 179,379 shares during the period. Hedge funds and other institutional investors own 95.66% of the company’s stock.

Casey’s General Stores Company Profile

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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