Zacks: Analysts Anticipate Casey’s General Stores, Inc. (NASDAQ:CASY) Will Announce Quarterly Sales of $3.44 Billion

Analysts expect Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating) to announce sales of $3.44 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Casey’s General Stores’ earnings. The lowest sales estimate is $3.35 billion and the highest is $3.55 billion. Casey’s General Stores reported sales of $2.38 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 44.5%. The firm is scheduled to issue its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Casey’s General Stores will report full year sales of $12.93 billion for the current fiscal year, with estimates ranging from $12.85 billion to $13.04 billion. For the next financial year, analysts forecast that the business will post sales of $14.93 billion, with estimates ranging from $14.62 billion to $15.32 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last released its quarterly earnings results on Tuesday, March 8th. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.26. The business had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Casey’s General Stores had a return on equity of 15.56% and a net margin of 2.71%. The firm’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS.

Several equities analysts have weighed in on CASY shares. Royal Bank of Canada cut their price target on Casey’s General Stores from $237.00 to $235.00 and set a “sector perform” rating for the company in a report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $257.00 to $259.00 and gave the company a “buy” rating in a research note on Thursday, March 10th. Wells Fargo & Company started coverage on Casey’s General Stores in a research note on Wednesday. They issued an “overweight” rating and a $240.00 price objective for the company. Finally, StockNews.com started coverage on Casey’s General Stores in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Casey’s General Stores has an average rating of “Buy” and an average price target of $233.36.

NASDAQ CASY opened at $209.98 on Thursday. The stock has a market capitalization of $7.79 billion, a PE ratio of 24.39 and a beta of 0.78. The business has a 50 day simple moving average of $203.50 and a two-hundred day simple moving average of $194.77. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.84 and a quick ratio of 0.39. Casey’s General Stores has a 1-year low of $170.82 and a 1-year high of $221.69.

The firm also recently declared a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Monday, May 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, April 29th. Casey’s General Stores’s dividend payout ratio is currently 16.26%.

Several hedge funds have recently modified their holdings of CASY. National Bank of Canada FI bought a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $121,795,000. Norges Bank bought a new stake in shares of Casey’s General Stores during the 4th quarter worth approximately $66,029,000. Goldman Sachs Group Inc. lifted its stake in shares of Casey’s General Stores by 152.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock worth $76,153,000 after acquiring an additional 232,277 shares during the last quarter. TD Asset Management Inc. lifted its stake in shares of Casey’s General Stores by 101.8% during the 4th quarter. TD Asset Management Inc. now owns 334,560 shares of the company’s stock worth $66,025,000 after acquiring an additional 168,802 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Casey’s General Stores by 450.9% during the 3rd quarter. Millennium Management LLC now owns 177,621 shares of the company’s stock worth $33,473,000 after acquiring an additional 145,379 shares during the last quarter. 84.44% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile (Get Rating)

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

Read More