Analysts Anticipate Caseys General Stores, Inc. (CASY) Will Post Quarterly Sales of $2.13 Billion
Analysts expect Caseys General Stores, Inc. (NASDAQ:CASY) to announce $2.13 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Caseys General Stores’ earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $1.99 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 report its next earnings report on Tuesday, September 5th.
According to Zacks, analysts expect that Caseys General Stores will report full year sales of $2.13 billion for the current fiscal year, with estimates ranging from $8.04 billion to $8.84 billion. For the next financial year, analysts anticipate that the firm will report sales of $9.22 billion per share, with estimates ranging from $8.79 billion to $10.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Caseys General Stores.
Caseys General Stores (NASDAQ:CASY) last released its quarterly earnings data on Monday, June 5th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.09. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.88 billion. Caseys General Stores had a return on equity of 14.93% and a net margin of 2.36%. Caseys General Stores’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.19 earnings per share.
A number of equities analysts recently issued reports on the stock. Sidoti cut shares of Caseys General Stores from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $130.00 to $118.00 in a research report on Tuesday, June 6th. Royal Bank Of Canada lowered their price objective on shares of Caseys General Stores from $121.00 to $118.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 6th. BMO Capital Markets set a $116.00 price objective on shares of Caseys General Stores and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Zacks Investment Research cut shares of Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC set a $139.00 price objective on shares of Caseys General Stores and gave the stock a “buy” rating in a research report on Thursday, May 18th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Caseys General Stores presently has an average rating of “Hold” and an average target price of $116.29.
In other news, SVP Julia L. Jackowski sold 1,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $108.09, for a total value of $108,090.00. Following the sale, the senior vice president now directly owns 21,902 shares of the company’s stock, valued at approximately $2,367,387.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Reilly Financial Advisors LLC raised its stake in Caseys General Stores by 4.1% in the first quarter. Reilly Financial Advisors LLC now owns 68,398 shares of the company’s stock worth $7,678,000 after buying an additional 2,674 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Caseys General Stores during the first quarter worth approximately $1,785,000. Ameriprise Financial Inc. raised its stake in Caseys General Stores by 1.7% in the first quarter. Ameriprise Financial Inc. now owns 160,221 shares of the company’s stock worth $17,985,000 after buying an additional 2,732 shares in the last quarter. Sei Investments Co. raised its stake in Caseys General Stores by 3.7% in the first quarter. Sei Investments Co. now owns 65,270 shares of the company’s stock worth $7,327,000 after buying an additional 2,309 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its stake in Caseys General Stores by 78.7% in the first quarter. Sit Investment Associates Inc. now owns 27,540 shares of the company’s stock worth $3,091,000 after buying an additional 12,125 shares in the last quarter. 96.64% of the stock is currently owned by institutional investors.
Caseys General Stores (NASDAQ:CASY) opened at 109.46 on Monday. The firm has a market capitalization of $4.22 billion, a PE ratio of 24.43 and a beta of 0.48. The company’s 50-day moving average is $106.22 and its 200-day moving average is $111.65. Caseys General Stores has a 52-week low of $101.89 and a 52-week high of $135.68.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders 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 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, July 28th. Caseys General Stores’s dividend payout ratio is 23.21%.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/07/analysts-anticipate-caseys-general-stores-inc-casy-will-post-quarterly-sales-of-2-13-billion.html.
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.