$2.12 Billion in Sales Expected for Casey's General Stores Inc (CASY) This Quarter
Analysts expect that Casey's General Stores Inc (NASDAQ:CASY) will announce sales of $2.12 billion for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Casey's General Stores’ earnings. The highest sales estimate is $2.19 billion and the lowest is $2.03 billion. Casey's General Stores posted sales of $1.85 billion in the same quarter last year, which would indicate a positive year over year growth rate of 14.6%. The business is expected to announce its next quarterly earnings report on Monday, June 4th.
On average, analysts expect that Casey's General Stores will report full year sales of $2.12 billion for the current financial year, with estimates ranging from $8.27 billion to $8.51 billion. For the next financial year, analysts anticipate that the firm will post sales of $9.46 billion per share, with estimates ranging from $9.05 billion to $10.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Casey's General Stores.
Casey's General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.14). The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Casey's General Stores had a net margin of 4.03% and a return on equity of 12.70%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share.
Casey's General Stores (NASDAQ:CASY) opened at $110.80 on Friday. The firm has a market capitalization of $4,158.99, a PE ratio of 12.91, a P/E/G ratio of 2.10 and a beta of 0.58. The company has a current ratio of 1.03, a quick ratio of 0.72 and a debt-to-equity ratio of 0.98. Casey's General Stores has a 1-year low of $99.76 and a 1-year high of $128.51.
Casey's General Stores declared that its board has initiated a stock repurchase program on Wednesday, March 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 annualized dividend and a yield of 0.94%. Casey's General Stores’s payout ratio is 12.12%.
In other Casey's General Stores news, Director Cara Kay Heiden acquired 4,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were purchased at an average cost of $109.77 per share, for a total transaction of $439,080.00. Following the transaction, the director now owns 5,043 shares in the company, valued at $553,570.11. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Brown Advisory Inc. grew its position in shares of Casey's General Stores by 34.9% in the 3rd quarter. Brown Advisory Inc. now owns 513,007 shares of the company’s stock worth $56,149,000 after buying an additional 132,694 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Casey's General Stores by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 504,745 shares of the company’s stock worth $55,244,000 after buying an additional 1,487 shares during the last quarter. Engine Capital Management LLC grew its position in shares of Casey's General Stores by 46.5% in the 3rd quarter. Engine Capital Management LLC now owns 2,930 shares of the company’s stock worth $321,000 after buying an additional 930 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of Casey's General Stores by 5.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,331,457 shares of the company’s stock worth $145,728,000 after buying an additional 63,323 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Casey's General Stores by 40.6% in the 3rd quarter. Retirement Systems of Alabama now owns 71,038 shares of the company’s stock worth $7,775,000 after buying an additional 20,528 shares during the last quarter. Hedge funds and other institutional investors own 97.33% of the company’s stock.
Casey's General Stores Company Profile
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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