$2.03 Billion in Sales Expected for Casey’s General Stores, Inc. (NASDAQ:CASY) This Quarter

Equities research analysts expect Casey’s General Stores, Inc. (NASDAQ:CASY) to post $2.03 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Casey’s General Stores’ earnings. The highest sales estimate is $2.08 billion and the lowest is $1.99 billion. Casey’s General Stores reported sales of $2.25 billion during the same quarter last year, which indicates a negative year over year growth rate of 9.8%. The company is expected to announce its next earnings results on Monday, March 8th.

On average, analysts expect that Casey’s General Stores will report full-year sales of $8.50 billion for the current year, with estimates ranging from $8.41 billion to $8.60 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.03 billion, with estimates ranging from $9.54 billion to $10.58 billion. Zacks Investment Research’s 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) last issued its earnings results on Sunday, December 6th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.82 by $0.18. Casey’s General Stores had a net margin of 3.92% and a return on equity of 19.21%. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the firm earned $2.21 EPS. Casey’s General Stores’s quarterly revenue was down 10.9% compared to the same quarter last year.

CASY has been the topic of a number of research reports. Raymond James upped their price target on shares of Casey’s General Stores from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, December 3rd. Berenberg Bank assumed coverage on shares of Casey’s General Stores in a research report on Wednesday, November 18th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on shares of Casey’s General Stores in a research report on Friday, November 20th. They set a “buy” rating and a $246.00 target price on the stock. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $168.00 to $171.00 in a research report on Monday, September 14th. They noted that the move was a valuation call. Finally, Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $180.00 to $202.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 10th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Casey’s General Stores has a consensus rating of “Hold” and an average price target of $204.00.

Shares of CASY opened at $178.62 on Friday. Casey’s General Stores has a 52 week low of $114.01 and a 52 week high of $196.57. The firm has a market cap of $6.60 billion, a P/E ratio of 20.25 and a beta of 0.88. The firm’s 50-day simple moving average is $181.88 and its 200 day simple moving average is $173.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.85 and a current ratio of 1.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 15th. Stockholders of record on Monday, February 1st will be issued a dividend of $0.34 per share. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, January 29th. Casey’s General Stores’s dividend payout ratio (DPR) is currently 18.03%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its position in Casey’s General Stores by 12.5% in the first quarter. Morgan Stanley now owns 52,343 shares of the company’s stock worth $6,935,000 after acquiring an additional 5,818 shares during the period. Commonwealth Equity Services LLC grew its stake in Casey’s General Stores by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,095 shares of the company’s stock valued at $612,000 after acquiring an additional 68 shares in the last quarter. Bank of Montreal Can grew its stake in Casey’s General Stores by 9.6% during the second quarter. Bank of Montreal Can now owns 19,127 shares of the company’s stock valued at $2,896,000 after acquiring an additional 1,670 shares in the last quarter. Nordea Investment Management AB grew its stake in Casey’s General Stores by 99.4% during the second quarter. Nordea Investment Management AB now owns 74,042 shares of the company’s stock valued at $10,938,000 after acquiring an additional 36,909 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in Casey’s General Stores by 7.9% during the second quarter. TD Asset Management Inc. now owns 123,180 shares of the company’s stock valued at $18,418,000 after acquiring an additional 8,980 shares in the last quarter. Hedge funds and other institutional investors own 83.47% of the company’s stock.

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; beverages, tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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Earnings History and Estimates for Casey`s General Stores (NASDAQ:CASY)

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