Brokers Set Expectations for Caseys General Stores, Inc.’s Q2 2018 Earnings (CASY)
Caseys General Stores, Inc. (NASDAQ:CASY) – Equities research analysts at William Blair reduced their Q2 2018 earnings estimates for Caseys General Stores in a research note issued on Thursday. William Blair analyst R. Domyancic now expects that the company will earn $1.32 per share for the quarter, down from their previous estimate of $1.37. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Caseys General Stores’ Q3 2018 earnings at $0.57 EPS, Q4 2018 earnings at $0.83 EPS and FY2019 earnings at $4.66 EPS.
Caseys General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 5th. The company reported $1.46 earnings per share for the quarter, hitting the consensus estimate of $1.46. Caseys General Stores had a net margin of 2.19% and a return on equity of 13.99%. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year.
Several other equities analysts have also recently issued reports on CASY. BidaskClub raised shares of Caseys General Stores from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Zacks Investment Research cut shares of Caseys General Stores from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. 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 on the stock in a research note on Tuesday, June 6th. 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 note on Friday, August 25th. Finally, BMO Capital Markets set a $110.00 price objective on shares of Caseys General Stores and gave the stock a “market perform” rating in a research note on Wednesday, June 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Caseys General Stores currently has an average rating of “Hold” and an average price target of $115.29.
Shares of Caseys General Stores (CASY) opened at 107.19 on Monday. The firm has a 50 day moving average of $106.19 and a 200 day moving average of $109.77. The stock has a market cap of $4.13 billion, a P/E ratio of 23.93 and a beta of 0.50. Caseys General Stores has a one year low of $99.76 and a one year high of $126.49.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Tuesday, October 31st. Caseys General Stores’s dividend payout ratio (DPR) is currently 24.53%.
In other news, SVP Julia L. Jackowski sold 1,000 shares of Caseys General Stores stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 21,902 shares of the company’s stock, valued at $2,367,387.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new position in shares of Caseys General Stores in the first quarter worth approximately $1,785,000. Ameriprise Financial Inc. increased its position in shares of 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 acquiring an additional 2,732 shares in the last quarter. Sei Investments Co. increased its position in shares of 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 acquiring an additional 2,309 shares in the last quarter. Pecaut & CO. purchased a new position in shares of Caseys General Stores in the second quarter worth approximately $1,706,000. Finally, State Street Corp increased its position in shares of Caseys General Stores by 2.3% in the first quarter. State Street Corp now owns 1,081,194 shares of the company’s stock worth $121,356,000 after acquiring an additional 23,935 shares in the last quarter. 99.48% of the stock is currently 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.
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.