Zacks: Analysts Anticipate Casey’s General Stores, Inc. (NASDAQ:CASY) Will Post Quarterly Sales of $3.20 Billion

Equities research analysts forecast that Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) will announce $3.20 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Casey’s General Stores’ earnings, with the lowest sales estimate coming in at $2.79 billion and the highest estimate coming in at $3.46 billion. Casey’s General Stores posted sales of $2.38 billion during the same quarter last year, which would indicate a positive year over year growth rate of 34.5%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Casey’s General Stores will report full year sales of $12.69 billion for the current fiscal year, with estimates ranging from $12.22 billion to $12.95 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $13.93 billion, with estimates ranging from $12.59 billion to $14.83 billion. Zacks’ sales calculations 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:CASYGet Rating) last issued its quarterly earnings data on Tuesday, March 8th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.26. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Casey’s General Stores had a return on equity of 15.56% and a net margin of 2.71%. Casey’s General Stores’s revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share.

Several research firms have weighed in on CASY. StockNews.com began coverage on Casey’s General Stores in a research report on Thursday, March 31st. They set a “buy” rating for the company. Royal Bank of Canada dropped their price target on Casey’s General Stores from $237.00 to $235.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Casey’s General Stores from $257.00 to $259.00 and gave the stock a “buy” rating in a research report on Thursday, March 10th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $232.70.

Shares of CASY stock opened at $209.24 on Friday. The stock has a fifty day moving average price of $190.43 and a 200 day moving average price of $191.77. The stock has a market cap of $7.77 billion, a PE ratio of 24.30 and a beta of 0.84. Casey’s General Stores has a 1 year low of $170.82 and a 1 year high of $229.18. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.39 and a current ratio of 0.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Stockholders of record on Monday, May 2nd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, April 29th. Casey’s General Stores’s dividend payout ratio is currently 16.26%.

A number of institutional investors have recently modified their holdings of CASY. Legacy Bridge LLC acquired a new position in Casey’s General Stores in the fourth quarter valued at $34,000. Lumature Wealth Partners LLC lifted its stake in shares of Casey’s General Stores by 63.8% during the fourth quarter. Lumature Wealth Partners LLC now owns 172 shares of the company’s stock worth $34,000 after purchasing an additional 67 shares in the last quarter. Covestor Ltd acquired a new position in shares of Casey’s General Stores during the fourth quarter worth about $34,000. O Shaughnessy Asset Management LLC lifted its stake in shares of Casey’s General Stores by 86.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 240 shares of the company’s stock worth $45,000 after purchasing an additional 111 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Casey’s General Stores during the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 85.44% of the company’s stock.

About Casey’s General Stores (Get Rating)

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

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

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