$2.50 Billion in Sales Expected for Casey’s General Stores Inc (CASY) This Quarter

Equities research analysts forecast that Casey’s General Stores Inc (NASDAQ:CASY) will report $2.50 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Casey’s General Stores’ earnings, with the highest sales estimate coming in at $2.60 billion and the lowest estimate coming in at $2.40 billion. Casey’s General Stores reported sales of $2.15 billion during the same quarter last year, which would suggest a positive year over year growth rate of 16.3%. The firm is scheduled to announce its next earnings report on Monday, December 10th.

According to Zacks, analysts expect that Casey’s General Stores will report full year sales of $9.73 billion for the current fiscal year, with estimates ranging from $9.24 billion to $9.97 billion. For the next financial year, analysts expect that the business will post sales of $10.74 billion per share, with estimates ranging from $10.47 billion to $11.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, September 10th. The company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.23. Casey’s General Stores had a return on equity of 12.38% and a net margin of 3.73%. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm posted $1.46 EPS. Casey’s General Stores’s revenue for the quarter was up 23.6% on a year-over-year basis.

Several research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Casey’s General Stores from $134.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada set a $130.00 target price on Casey’s General Stores and gave the stock a “hold” rating in a research note on Wednesday. Deutsche Bank boosted their target price on Casey’s General Stores to $142.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Co boosted their target price on Casey’s General Stores from $97.00 to $120.00 and gave the stock a “market perform” rating in a research note on Wednesday. Finally, BMO Capital Markets set a $125.00 target price on Casey’s General Stores and gave the stock a “hold” rating in a research note on Wednesday. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $132.78.

In other Casey’s General Stores news, insider Terry W. Handley sold 1,342 shares of Casey’s General Stores stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $100.12, for a total transaction of $134,361.04. Following the completion of the sale, the insider now directly owns 33,287 shares of the company’s stock, valued at approximately $3,332,694.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian Joseph Johnson sold 1,500 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $127.43, for a total value of $191,145.00. Following the sale, the senior vice president now directly owns 10,471 shares of the company’s stock, valued at $1,334,319.53. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CASY. Epoch Investment Partners Inc. purchased a new stake in Casey’s General Stores during the 2nd quarter worth about $25,147,000. Pwmco LLC purchased a new stake in Casey’s General Stores during the 2nd quarter worth about $21,998,000. Dimensional Fund Advisors LP lifted its holdings in Casey’s General Stores by 43.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 658,071 shares of the company’s stock worth $69,152,000 after buying an additional 198,263 shares during the last quarter. Iridian Asset Management LLC CT lifted its holdings in Casey’s General Stores by 16.9% during the 1st quarter. Iridian Asset Management LLC CT now owns 1,277,835 shares of the company’s stock worth $140,268,000 after buying an additional 184,641 shares during the last quarter. Finally, Carillon Tower Advisers Inc. lifted its holdings in Casey’s General Stores by 38.6% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 643,593 shares of the company’s stock worth $67,628,000 after buying an additional 179,379 shares during the last quarter. 95.71% of the stock is owned by institutional investors.

CASY opened at $126.11 on Friday. Casey’s General Stores has a 12 month low of $90.42 and a 12 month high of $130.50. The firm has a market cap of $4.69 billion, a P/E ratio of 33.10, a P/E/G ratio of 3.09 and a beta of 0.55. The company has a quick ratio of 0.31, a current ratio of 0.77 and a debt-to-equity ratio of 0.99.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Wednesday, October 31st. Casey’s General Stores’s dividend payout ratio (DPR) is 30.45%.

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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