Jefferies Group Equities Analysts Cut Earnings Estimates for Caseys General Stores, Inc. (CASY)
Caseys General Stores, Inc. (NASDAQ:CASY) – Stock analysts at Jefferies Group decreased their Q2 2018 earnings per share estimates for Caseys General Stores in a research note issued on Wednesday. Jefferies Group analyst C. Mandeville now expects that the company will post earnings of $1.33 per share for the quarter, down from their prior estimate of $1.35. Jefferies Group currently has a “Buy” rating and a $134.00 target price on the stock. Jefferies Group also issued estimates for Caseys General Stores’ Q3 2018 earnings at $0.55 EPS, FY2018 earnings at $4.25 EPS, Q1 2019 earnings at $1.70 EPS, Q2 2019 earnings at $1.41 EPS, Q3 2019 earnings at $0.63 EPS, Q4 2019 earnings at $0.96 EPS, FY2019 earnings at $4.70 EPS and FY2022 earnings at $6.22 EPS.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. William Blair initiated coverage on Caseys General Stores in a research report on Wednesday, July 12th. They issued an “outperform” rating on the stock. Sidoti lowered 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. BidaskClub lowered Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, BMO Capital Markets set a $116.00 price objective on Caseys General Stores and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $115.29.
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Caseys General Stores (CASY) traded down 1.02% during midday trading on Thursday, reaching $105.40. The company had a trading volume of 254,321 shares. The stock’s 50 day moving average price is $106.11 and its 200-day moving average price is $109.80. Caseys General Stores has a one year low of $99.76 and a one year high of $126.49. The firm has a market capitalization of $4.06 billion, a P/E ratio of 23.53 and a beta of 0.50.
Caseys General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, September 5th. The company reported $1.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.46. Caseys General Stores had a return on equity of 13.88% and a net margin of 2.19%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business earned $1.70 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Tuesday, October 31st. Caseys General Stores’s payout ratio is 24.53%.
In other news, SVP John C. Soupene sold 1,000 shares of the company’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 transaction of $106,520.00. Following the completion of the transaction, 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 filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in CASY. Karp Capital Management Corp acquired a new position in Caseys General Stores in the 1st quarter valued at $1,785,000. Ameriprise Financial Inc. raised its stake in Caseys General Stores by 1.7% in the 1st quarter. Ameriprise Financial Inc. now owns 160,221 shares of the company’s stock valued at $17,985,000 after purchasing an additional 2,732 shares during the last quarter. Sei Investments Co. raised its stake in Caseys General Stores by 3.7% in the 1st quarter. Sei Investments Co. now owns 65,270 shares of the company’s stock valued at $7,327,000 after purchasing an additional 2,309 shares during the last quarter. Pecaut & CO. acquired a new position in Caseys General Stores in the 2nd quarter valued at $1,706,000. Finally, State Street Corp raised its stake in Caseys General Stores by 2.3% in the 1st quarter. State Street Corp now owns 1,081,194 shares of the company’s stock valued at $121,356,000 after purchasing an additional 23,935 shares during the last quarter. 99.48% of the stock is owned by institutional investors and hedge funds.
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.
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