Casey’s General Stores (NASDAQ:CASY) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Posted by on Jun 8th, 2022

Casey’s General Stores (NASDAQ:CASY – Get Rating) released its quarterly earnings results on Tuesday. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.12, Briefing.com reports. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.45 billion. Casey’s General Stores had a net margin of 2.71% and a return on equity of 15.56%. The firm’s quarterly revenue was up 45.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 EPS.

Casey’s General Stores stock opened at $206.25 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $205.55 and a two-hundred day moving average price of $195.39. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 23.95 and a beta of 0.77. Casey’s General Stores has a 52-week low of $170.82 and a 52-week high of $216.40.

Several brokerages have weighed in on CASY. Wells Fargo & Company started coverage on shares of Casey’s General Stores in a report on Wednesday, May 25th. They set an “overweight” rating and a $240.00 price objective for the company. StockNews.com started coverage on shares of Casey’s General Stores in a report on Thursday, March 31st. They issued a “buy” rating for the company. Royal Bank of Canada decreased their price target on shares of Casey’s General Stores from $237.00 to $235.00 and set a “sector perform” rating for the company in a report on Wednesday, March 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Casey’s General Stores from $257.00 to $259.00 and gave the company a “buy” rating in a report on Thursday, March 10th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Casey’s General Stores has an average rating of “Buy” and an average target price of $231.70.

A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley raised its position in shares of Casey’s General Stores by 79.7% during the 2nd quarter. Morgan Stanley now owns 118,252 shares of the company’s stock worth $23,017,000 after buying an additional 52,443 shares in the last quarter. LPL Financial LLC raised its position in shares of Casey’s General Stores by 8.4% during the 4th quarter. LPL Financial LLC now owns 13,278 shares of the company’s stock worth $2,615,000 after buying an additional 1,025 shares in the last quarter. MML Investors Services LLC raised its position in shares of Casey’s General Stores by 30.4% during the 4th quarter. MML Investors Services LLC now owns 2,198 shares of the company’s stock worth $434,000 after buying an additional 512 shares in the last quarter. Stifel Financial Corp raised its position in shares of Casey’s General Stores by 12.0% during the 4th quarter. Stifel Financial Corp now owns 10,180 shares of the company’s stock worth $2,009,000 after buying an additional 1,090 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its position in shares of Casey’s General Stores by 10.1% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,634 shares of the company’s stock worth $1,309,000 after buying an additional 610 shares in the last quarter. 84.44% of the stock is owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile (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 for Casey's General Stores (NASDAQ:CASY)

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