FY2018 EPS Estimates for Casey's General Stores Inc Cut by Analyst (CASY)
Casey's General Stores Inc (NASDAQ:CASY) – Equities research analysts at Gabelli reduced their FY2018 earnings estimates for shares of Casey's General Stores in a report released on Thursday. Gabelli analyst D. Witkowski now forecasts that the company will post earnings of $3.85 per share for the year, down from their previous forecast of $4.05. Gabelli has a “Buy” rating and a $162.00 price objective on the stock. Gabelli also issued estimates for Casey's General Stores’ FY2019 earnings at $4.60 EPS and FY2022 earnings at $6.75 EPS.
Other research analysts also recently issued reports about the company. BidaskClub downgraded Casey's General Stores from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 24th. Stephens set a $150.00 target price on Casey's General Stores and gave the company a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research upgraded Casey's General Stores from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Tuesday, February 20th. Jefferies Group restated a “buy” rating and issued a $136.00 price target on shares of Casey's General Stores in a research note on Thursday. Finally, Barclays restated a “hold” rating on shares of Casey's General Stores in a research note on Friday, December 15th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Casey's General Stores has a consensus rating of “Hold” and an average target price of $123.18.
Casey's General Stores (NASDAQ:CASY) last announced its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.14). Casey's General Stores had a net margin of 4.03% and a return on equity of 12.70%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.94%. Casey's General Stores’s dividend payout ratio (DPR) is presently 24.82%.
Casey's General Stores announced that its board has approved a share buyback program on Wednesday, March 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other Casey's General Stores news, Director Cara Kay Heiden purchased 4,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 5,043 shares in the company, valued at $553,570.11. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its position in Casey's General Stores by 390.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,281 shares of the company’s stock worth $1,822,000 after purchasing an additional 12,961 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Casey's General Stores by 17.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 17,000 shares of the company’s stock worth $1,903,000 after purchasing an additional 2,487 shares in the last quarter. WealthPLAN Partners LLC boosted its position in Casey's General Stores by 316.1% during the fourth quarter. WealthPLAN Partners LLC now owns 12,001 shares of the company’s stock worth $1,343,000 after purchasing an additional 9,117 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Casey's General Stores during the fourth quarter worth $2,708,000. Finally, Jump Trading LLC purchased a new stake in Casey's General Stores during the fourth quarter worth $386,000. 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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