Zacks: Brokerages Anticipate Caseys General Stores, Inc. (NASDAQ:CASY) Will Post Quarterly Sales of $2.13 Billion
Equities research analysts predict that Caseys General Stores, Inc. (NASDAQ:CASY) will post $2.13 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Caseys General Stores’ earnings, with the lowest sales estimate coming in at $1.99 billion and the highest estimate coming in at $2.21 billion. Caseys General Stores reported sales of $1.97 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The company is scheduled to issue its next quarterly earnings results on Tuesday, September 5th.
On average, analysts expect that Caseys General Stores will report full-year sales of $2.13 billion for the current year, with estimates ranging from $8.04 billion to $8.84 billion. For the next financial year, analysts forecast that the business will report sales of $9.22 billion per share, with estimates ranging from $8.79 billion to $10.01 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Caseys General Stores.
Caseys General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, June 5th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.09. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.88 billion. Caseys General Stores had a return on equity of 14.93% and a net margin of 2.36%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS.
Several analysts have weighed in on the company. William Blair assumed coverage on Caseys General Stores in a research report on Wednesday. They set an “outperform” rating on the stock. BidaskClub cut Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $139.00 price objective on shares of Caseys General Stores in a research report on Tuesday, June 20th. Zacks Investment Research cut Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Thursday, June 8th. Finally, Deutsche Bank AG set a $120.00 price objective on Caseys General Stores and gave the company a “buy” rating in a research report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $120.50.
Caseys General Stores (NASDAQ CASY) opened at 104.87 on Friday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 23.41 and a beta of 0.49. The firm has a 50-day moving average price of $111.18 and a 200 day moving average price of $114.07. Caseys General Stores has a one year low of $104.21 and a one year high of $136.22.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be given a $0.26 dividend. This is a boost from Caseys General Stores’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, July 28th. Caseys General Stores’s payout ratio is currently 21.43%.
In other news, SVP John C. Soupene sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $106.52, for a total value of $106,520.00. Following the sale, the senior vice president now directly owns 1,253 shares of the company’s stock, valued at approximately $133,469.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of CASY. BlackRock Inc. boosted its position in Caseys General Stores by 14,288.2% in the first quarter. BlackRock Inc. now owns 3,093,329 shares of the company’s stock valued at $347,227,000 after buying an additional 3,071,830 shares during the period. Credit Suisse AG boosted its position in Caseys General Stores by 518.4% in the first quarter. Credit Suisse AG now owns 364,691 shares of the company’s stock valued at $40,935,000 after buying an additional 305,714 shares during the period. Vontobel Asset Management Inc. boosted its position in Caseys General Stores by 25.4% in the first quarter. Vontobel Asset Management Inc. now owns 1,498,546 shares of the company’s stock valued at $173,215,000 after buying an additional 303,068 shares during the period. Norges Bank acquired a new position in Caseys General Stores during the fourth quarter valued at about $32,878,000. Finally, Fiduciary Management Inc. WI acquired a new position in Caseys General Stores during the first quarter valued at about $29,598,000. 96.76% of the stock is currently owned by hedge funds and other institutional investors.
About Caseys General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Caseys General Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caseys General Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.