Q2 2018 Earnings Estimate for Caseys General Stores, Inc. Issued By Northcoast Research (CASY)
Caseys General Stores, Inc. (NASDAQ:CASY) – Equities research analysts at Northcoast Research decreased their Q2 2018 earnings estimates for Caseys General Stores in a research note issued on Friday. Northcoast Research analyst C. Cerankosky now forecasts that the company will post earnings per share of $1.42 for the quarter, down from their previous estimate of $1.50. Northcoast Research also issued estimates for Caseys General Stores’ Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $4.40 EPS and FY2019 earnings at $4.80 EPS.
CASY has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $134.00 price objective (down from $139.00) on shares of Caseys General Stores in a research report on Thursday, August 31st. Zacks Investment Research cut Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Deutsche Bank AG set a $120.00 price objective on Caseys General Stores and gave the stock a “buy” rating in a research report on Tuesday, June 6th. 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. Finally, BidaskClub raised Caseys General Stores from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Caseys General Stores has a consensus rating of “Hold” and an average target price of $115.29.
Shares of Caseys General Stores (CASY) opened at 107.19 on Monday. The company has a 50-day moving average of $106.19 and a 200 day moving average of $109.77. Caseys General Stores has a 12-month low of $99.76 and a 12-month high of $126.49. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 23.93 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 (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.46. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.16 billion. Caseys General Stores had a net margin of 2.19% and a return on equity of 13.99%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.70 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 1st will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.97%. The ex-dividend date is Tuesday, October 31st. Caseys General Stores’s payout ratio is currently 24.53%.
In other Caseys General Stores news, SVP John C. Soupene sold 1,000 shares of the firm’s stock in a transaction 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 owns 1,253 shares of the company’s stock, valued at $133,469.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Colony Group LLC purchased a new position in Caseys General Stores during the second quarter worth $1,267,000. Verition Fund Management LLC increased its position in Caseys General Stores by 181.2% during the second quarter. Verition Fund Management LLC now owns 14,087 shares of the company’s stock worth $1,509,000 after buying an additional 9,077 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Caseys General Stores by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 11,725 shares of the company’s stock worth $1,256,000 after buying an additional 175 shares in the last quarter. Bank of Nova Scotia purchased a new position in Caseys General Stores during the second quarter worth $503,000. Finally, Atlanta Capital Management Co. L L C increased its position in Caseys General Stores by 1.2% during the second quarter. Atlanta Capital Management Co. L L C now owns 456,933 shares of the company’s stock worth $48,942,000 after buying an additional 5,525 shares in the last quarter. 99.48% of the stock is owned by 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.
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