$2.55 Billion in Sales Expected for Casey’s General Stores Inc (CASY) This Quarter

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Equities analysts expect Casey’s General Stores Inc (NASDAQ:CASY) to report sales of $2.55 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Casey’s General Stores’ earnings, with the lowest sales estimate coming in at $2.43 billion and the highest estimate coming in at $2.64 billion. Casey’s General Stores reported sales of $2.09 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 22%. The business is expected to announce its next quarterly earnings report on Tuesday, September 4th.

According to Zacks, analysts expect that Casey’s General Stores will report full-year sales of $9.67 billion for the current fiscal year, with estimates ranging from $9.24 billion to $10.09 billion. For the next year, analysts forecast that the business will report sales of $10.68 billion per share, with estimates ranging from $9.93 billion to $11.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Casey’s General Stores.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, June 12th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.15). The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.12 billion. Casey’s General Stores had a return on equity of 11.61% and a net margin of 3.79%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.76 earnings per share.

A number of equities research analysts recently commented on CASY shares. BidaskClub upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Zacks Investment Research lowered shares of Casey’s General Stores from a “hold” rating to a “sell” rating in a report on Tuesday, May 8th. Royal Bank of Canada restated a “hold” rating and set a $120.00 price objective on shares of Casey’s General Stores in a report on Wednesday, August 8th. BMO Capital Markets dropped their price objective on shares of Casey’s General Stores from $105.00 to $92.00 and set a “market perform” rating on the stock in a report on Thursday, June 14th. Finally, ValuEngine upgraded shares of Casey’s General Stores from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $124.33.

In related news, insider Terry W. Handley sold 1,342 shares of the firm’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $100.12, for a total value of $134,361.04. Following the completion of the transaction, the insider now owns 33,287 shares of the company’s stock, valued at $3,332,694.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CASY. Wells Fargo & Company MN grew its position in Casey’s General Stores by 10.2% in the first quarter. Wells Fargo & Company MN now owns 164,618 shares of the company’s stock valued at $18,071,000 after purchasing an additional 15,216 shares in the last quarter. Olstein Capital Management L.P. bought a new position in Casey’s General Stores in the first quarter valued at $5,179,000. Swiss National Bank grew its position in Casey’s General Stores by 1.8% in the first quarter. Swiss National Bank now owns 66,487 shares of the company’s stock valued at $7,298,000 after purchasing an additional 1,200 shares in the last quarter. River Road Asset Management LLC grew its position in Casey’s General Stores by 1,495.6% in the first quarter. River Road Asset Management LLC now owns 130,794 shares of the company’s stock valued at $14,357,000 after purchasing an additional 122,597 shares in the last quarter. Finally, Granite Springs Asset Management LLC grew its position in Casey’s General Stores by 9.7% in the first quarter. Granite Springs Asset Management LLC now owns 5,650 shares of the company’s stock valued at $620,000 after purchasing an additional 500 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

CASY traded up $0.11 during mid-day trading on Monday, hitting $114.75. The stock had a trading volume of 238,200 shares, compared to its average volume of 468,431. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.78. The firm has a market cap of $4.06 billion, a PE ratio of 30.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Casey’s General Stores has a 1-year low of $90.42 and a 1-year high of $128.51.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 1st were given a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, July 31st. This represents a $1.16 dividend on an annualized basis and a yield of 1.01%. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.26. Casey’s General Stores’s dividend payout ratio (DPR) is 30.45%.

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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