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

Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) – Equities researchers at Jefferies Financial Group upped their Q2 2023 earnings per share estimates for shares of Casey’s General Stores in a research note issued to investors on Wednesday, September 14th. Jefferies Financial Group analyst M. Fishbein now expects that the company will post earnings of $3.34 per share for the quarter, up from their previous estimate of $2.52. The consensus estimate for Casey’s General Stores’ current full-year earnings is $10.04 per share. Jefferies Financial Group also issued estimates for Casey’s General Stores’ FY2023 earnings at $10.45 EPS, Q1 2024 earnings at $3.28 EPS, Q2 2024 earnings at $2.83 EPS, Q3 2024 earnings at $1.96 EPS, Q4 2024 earnings at $2.01 EPS, FY2024 earnings at $10.08 EPS and FY2025 earnings at $10.84 EPS.

Casey’s General Stores (NASDAQ:CASYGet Rating) last announced its quarterly earnings data on Wednesday, September 7th. The company reported $4.09 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.98. Casey’s General Stores had a return on equity of 16.73% and a net margin of 2.63%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.47 billion. During the same quarter last year, the firm posted $3.19 earnings per share. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year.

CASY has been the subject of several other research reports. Stephens upped their price target on shares of Casey’s General Stores from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $238.00 to $250.00 and gave the company a “sector perform” rating in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Casey’s General Stores from $276.00 to $269.00 in a research note on Friday, September 9th. Benchmark initiated coverage on Casey’s General Stores in a research report on Monday, July 18th. They issued a “buy” rating and a $230.00 price objective for the company. Finally, Wolfe Research began coverage on Casey’s General Stores in a research note on Wednesday, August 17th. They issued an “outperform” rating and a $228.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.00.

Casey’s General Stores Stock Performance

Shares of CASY opened at $214.90 on Monday. Casey’s General Stores has a 12 month low of $170.82 and a 12 month high of $223.90. The business’s fifty day simple moving average is $209.00 and its two-hundred day simple moving average is $201.63. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 21.51 and a beta of 0.79. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.69.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC lifted its stake in Casey’s General Stores by 0.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,212 shares of the company’s stock worth $1,149,000 after acquiring an additional 49 shares during the period. ICW Investment Advisors LLC raised its position in shares of Casey’s General Stores by 0.6% in the 1st quarter. ICW Investment Advisors LLC now owns 9,002 shares of the company’s stock worth $1,784,000 after acquiring an additional 51 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Casey’s General Stores by 3.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,736 shares of the company’s stock valued at $344,000 after buying an additional 54 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Casey’s General Stores by 39.4% in the second quarter. Meeder Asset Management Inc. now owns 198 shares of the company’s stock valued at $37,000 after purchasing an additional 56 shares during the period. Finally, FSB Premier Wealth Management Inc. boosted its stake in shares of Casey’s General Stores by 2.2% in the first quarter. FSB Premier Wealth Management Inc. now owns 2,607 shares of the company’s stock worth $516,000 after buying an additional 57 shares during the last quarter. 76.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos bought 454 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were acquired at an average cost of $220.45 per share, for a total transaction of $100,084.30. Following the transaction, the director now owns 454 shares in the company, valued at $100,084.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.28% of the company’s stock.

Casey’s General Stores Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be issued a $0.38 dividend. The ex-dividend date is Monday, October 31st. This represents a $1.52 dividend on an annualized basis and a yield of 0.71%. Casey’s General Stores’s dividend payout ratio is currently 15.22%.

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; beverages; 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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