Casey’s General Stores Inc (NASDAQ:CASY) Expected to Announce Quarterly Sales of $2.33 Billion

Equities analysts forecast that Casey’s General Stores Inc (NASDAQ:CASY) will announce sales of $2.33 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Casey’s General Stores’ earnings. The highest sales estimate is $2.36 billion and the lowest is $2.29 billion. Casey’s General Stores reported sales of $2.05 billion during the same quarter last year, which indicates a positive year over year growth rate of 13.7%. The company is scheduled to report its next quarterly earnings results on Monday, March 9th.

On average, analysts expect that Casey’s General Stores will report full-year sales of $9.85 billion for the current financial year, with estimates ranging from $9.76 billion to $9.99 billion. For the next fiscal year, analysts anticipate that the business will post sales of $10.54 billion, with estimates ranging from $10.47 billion to $10.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 9th. The company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.06. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.53 billion. Casey’s General Stores had a return on equity of 16.06% and a net margin of 2.51%. Casey’s General Stores’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS.

CASY has been the topic of several recent research reports. Barclays upped their price target on Casey’s General Stores from $140.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on Casey’s General Stores from $152.00 to $169.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Stephens upped their price target on Casey’s General Stores from $181.00 to $197.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 11th. Wells Fargo & Co upped their price target on Casey’s General Stores from $145.00 to $165.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada cut Casey’s General Stores from a “sector perform” rating to an “underperform” rating and upped their price target for the stock from $144.00 to $158.00 in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. Casey’s General Stores has an average rating of “Hold” and an average target price of $172.30.

Shares of Casey’s General Stores stock traded down $0.21 during midday trading on Friday, reaching $153.81. 386,766 shares of the company’s stock traded hands, compared to its average volume of 316,340. The company has a market cap of $5.67 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock has a 50 day moving average of $170.10 and a 200-day moving average of $162.10. Casey’s General Stores has a 12 month low of $121.24 and a 12 month high of $179.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.29 and a current ratio of 0.36.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 17th. Stockholders of record on Monday, February 3rd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.83%. Casey’s General Stores’s dividend payout ratio is currently 23.23%.

In other news, Director Allison M. Wing sold 554 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $165.91, for a total value of $91,914.14. Following the sale, the director now directly owns 998 shares of the company’s stock, valued at $165,578.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its holdings in shares of Casey’s General Stores by 7.7% during the second quarter. UBS Asset Management Americas Inc. now owns 62,023 shares of the company’s stock valued at $9,675,000 after purchasing an additional 4,438 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Casey’s General Stores by 9.3% during the third quarter. Benjamin Edwards Inc. now owns 976 shares of the company’s stock valued at $157,000 after purchasing an additional 83 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Casey’s General Stores during the third quarter valued at $5,608,000. Carillon Tower Advisers Inc. lifted its holdings in shares of Casey’s General Stores by 29.1% during the second quarter. Carillon Tower Advisers Inc. now owns 830,521 shares of the company’s stock valued at $129,553,000 after purchasing an additional 187,330 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Casey’s General Stores by 5.9% during the second quarter. KBC Group NV now owns 28,053 shares of the company’s stock valued at $4,376,000 after purchasing an additional 1,569 shares in the last quarter. 86.23% of the stock is currently 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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