Equities research analysts predict that Casey’s General Stores, Inc. (NASDAQ:CASY) will post $2.16 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Casey’s General Stores’ earnings, with estimates ranging from $1.99 billion to $2.26 billion. Casey’s General Stores reported sales of $1.81 billion during the same quarter last year, which indicates a positive year over year growth rate of 19.3%. The company is expected to announce its next earnings report after the market closes on Tuesday, June 8th.
According to Zacks, analysts expect that Casey’s General Stores will report full year sales of $8.49 billion for the current year, with estimates ranging from $8.32 billion to $8.59 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.59 billion, with estimates ranging from $9.93 billion to $10.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Casey’s General Stores.
Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Sunday, March 7th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Casey’s General Stores had a net margin of 3.92% and a return on equity of 19.21%.
CASY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Casey’s General Stores from $220.00 to $217.00 in a research note on Wednesday, March 10th. Raymond James reiterated a “market perform” rating on shares of Casey’s General Stores in a research note on Tuesday, April 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Casey’s General Stores presently has a consensus rating of “Hold” and a consensus target price of $208.10.
A number of hedge funds and other institutional investors have recently modified their holdings of CASY. Norges Bank acquired a new position in Casey’s General Stores in the fourth quarter worth approximately $80,029,000. Brown Advisory Inc. increased its holdings in Casey’s General Stores by 37.8% in the fourth quarter. Brown Advisory Inc. now owns 731,505 shares of the company’s stock worth $130,663,000 after buying an additional 200,640 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Casey’s General Stores by 30.5% during the fourth quarter. JPMorgan Chase & Co. now owns 687,144 shares of the company’s stock worth $122,739,000 after purchasing an additional 160,576 shares during the period. Vontobel Asset Management Inc. boosted its position in Casey’s General Stores by 31.3% during the fourth quarter. Vontobel Asset Management Inc. now owns 658,964 shares of the company’s stock worth $126,700,000 after purchasing an additional 157,208 shares during the period. Finally, Ceredex Value Advisors LLC bought a new stake in Casey’s General Stores during the first quarter worth approximately $33,856,000. 83.08% of the stock is owned by institutional investors.
Shares of NASDAQ CASY traded up $0.16 during trading on Friday, reaching $219.41. 213,303 shares of the stock were exchanged, compared to its average volume of 217,120. The company has a quick ratio of 0.85, a current ratio of 1.30 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $221.28 and its 200 day moving average price is $199.08. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 24.79 and a beta of 0.88. Casey’s General Stores has a twelve month low of $142.34 and a twelve month high of $229.18.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 17th. Shareholders of record on Monday, May 3rd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Friday, April 30th. Casey’s General Stores’s payout ratio is 19.15%.
About Casey’s General Stores
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; beverages, tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.
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