Jefferies Financial Group Research Analysts Lift Earnings Estimates for Casey’s General Stores Inc (NASDAQ:CASY)

Casey’s General Stores Inc (NASDAQ:CASY) – Research analysts at Jefferies Financial Group upped their Q1 2020 earnings per share (EPS) estimates for Casey’s General Stores in a research report issued on Tuesday, June 11th. Jefferies Financial Group analyst C. Mandeville now forecasts that the company will post earnings per share of $1.89 for the quarter, up from their previous forecast of $1.86. Jefferies Financial Group currently has a “Buy” rating and a $167.00 price target on the stock. Jefferies Financial Group also issued estimates for Casey’s General Stores’ Q2 2020 earnings at $2.23 EPS, Q3 2020 earnings at $1.06 EPS, Q4 2020 earnings at $0.71 EPS, FY2020 earnings at $5.86 EPS, Q3 2021 earnings at $1.15 EPS, Q4 2021 earnings at $0.65 EPS, FY2021 earnings at $6.27 EPS, FY2022 earnings at $7.10 EPS, FY2023 earnings at $7.95 EPS and FY2024 earnings at $8.60 EPS.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, June 10th. The company reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.27. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.13 billion. Casey’s General Stores had a return on equity of 14.95% and a net margin of 2.18%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share.

A number of other equities analysts have also commented on the company. Barclays lifted their price objective on Casey’s General Stores from $123.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $140.00 price objective (up from $130.00) on shares of Casey’s General Stores in a research note on Wednesday. BMO Capital Markets lifted their price objective on Casey’s General Stores from $5.64 to $140.00 and gave the stock a “market perform” rating in a research note on Wednesday. Sidoti set a $147.00 price objective on Casey’s General Stores and gave the stock a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $144.40.

Casey’s General Stores stock opened at $149.89 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.22 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $5.36 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.67 and a beta of 0.45. Casey’s General Stores has a one year low of $95.27 and a one year high of $151.29.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Bank of Montreal Can increased its holdings in shares of Casey’s General Stores by 3.2% during the fourth quarter. Bank of Montreal Can now owns 5,520 shares of the company’s stock valued at $708,000 after acquiring an additional 172 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $269,000. Rhumbline Advisers increased its holdings in shares of Casey’s General Stores by 39.8% during the fourth quarter. Rhumbline Advisers now owns 102,367 shares of the company’s stock valued at $13,117,000 after acquiring an additional 29,143 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Casey’s General Stores by 0.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 44,441 shares of the company’s stock valued at $5,695,000 after acquiring an additional 124 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $363,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.

In other news, SVP Julia L. Jackowski sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $125.95, for a total transaction of $1,574,375.00. Following the completion of the sale, the senior vice president now owns 32,944 shares in the company, valued at $4,149,296.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William J. Walljasper sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $126.05, for a total value of $378,150.00. Following the sale, the vice president now owns 24,785 shares of the company’s stock, valued at approximately $3,124,149.25. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.32 dividend. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Wednesday, July 31st. Casey’s General Stores’s payout ratio is presently 21.05%.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Earnings History and Estimates for Casey`s General Stores (NASDAQ:CASY)

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