Jefferies Group Weighs in on Casey’s General Stores Inc.’s Q1 2018 Earnings (CASY)
Casey’s General Stores Inc. (NASDAQ:CASY) – Stock analysts at Jefferies Group upped their Q1 2018 EPS estimates for shares of Casey’s General Stores in a report issued on Friday. Jefferies Group analyst C. Mandeville now forecasts that the firm will post earnings per share of $1.94 for the quarter, up from their prior estimate of $1.92. Jefferies Group currently has a “Buy” rating and a $134.00 target price on the stock.
A number of other equities research analysts have also issued reports on CASY. BMO Capital Markets reissued a “hold” rating and set a $118.00 target price (up previously from $115.00) on shares of Casey’s General Stores in a research note on Wednesday, June 8th. Zacks Investment Research lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Thursday, June 9th. Goldman Sachs Group Inc. raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $123.00 to $145.00 in a research note on Wednesday, June 29th. Bank of America Corp. began coverage on shares of Casey’s General Stores in a research note on Monday, July 25th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Deutsche Bank AG lifted their price objective on shares of Casey’s General Stores from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $135.90.
Casey’s General Stores (NASDAQ:CASY) opened at 120.15 on Monday. The firm has a market capitalization of $4.71 billion, a P/E ratio of 20.50 and a beta of 0.51. Casey’s General Stores has a 1-year low of $98.80 and a 1-year high of $136.22. The company has a 50-day moving average price of $125.65 and a 200-day moving average price of $121.37.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, September 6th. The company reported $1.70 EPS for the quarter, missing the Zacks’ consensus estimate of $1.81 by $0.11. The firm earned $1.97 billion during the quarter. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $1.57 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. bought a new position in Casey’s General Stores during the second quarter valued at about $132,000. IFP Advisors Inc increased its position in Casey’s General Stores by 179.3% in the first quarter. IFP Advisors Inc now owns 1,271 shares of the company’s stock valued at $144,000 after buying an additional 816 shares during the last quarter. Calamos Wealth Management LLC bought a new position in Casey’s General Stores during the second quarter valued at about $205,000. Dynamic Technology Lab Private Ltd bought a new position in Casey’s General Stores during the second quarter valued at about $211,000. Finally, Oppenheimer & Co. Inc. bought a new position in Casey’s General Stores during the second quarter valued at about $221,000. Institutional investors own 83.53% of the company’s stock.
In related news, Director Richard A. Wilkey acquired 340 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were bought at an average price of $117.80 per share, for a total transaction of $40,052.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $1,767,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, October 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.80%. Casey’s General Stores’s payout ratio is 16.38%.
About Casey’s General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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