Jefferies Financial Group Equities Analysts Reduce Earnings Estimates for Casey’s General Stores Inc (CASY)

Jefferies Financial Group Equities Analysts Reduce Earnings Estimates for Casey’s General Stores Inc (CASY)

Casey’s General Stores Inc (NASDAQ:CASY) – Jefferies Financial Group cut their Q4 2019 earnings estimates for Casey’s General Stores in a research report issued on Tuesday, September 11th, according to Zacks Investment Research. Jefferies Financial Group analyst C. Mandeville now anticipates that the company will post earnings of $0.56 per share for the quarter, down from their previous forecast of $0.59. Jefferies Financial Group has a “Buy” rating and a $142.00 price objective on the stock. Jefferies Financial Group also issued estimates for Casey’s General Stores’ Q1 2020 earnings at $1.82 EPS, Q2 2020 earnings at $1.87 EPS, Q3 2020 earnings at $0.66 EPS, Q4 2020 earnings at $0.80 EPS, FY2020 earnings at $5.15 EPS, FY2021 earnings at $5.60 EPS and FY2022 earnings at $6.53 EPS.

A number of other equities analysts have also issued reports on the stock. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 18th. Royal Bank of Canada set a $130.00 target price on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Wednesday, September 12th. Deutsche Bank increased their target price on shares of Casey’s General Stores to $142.00 and gave the company a “buy” rating in a research report on Wednesday, September 12th. Wells Fargo & Co raised their price objective on shares of Casey’s General Stores from $97.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, September 12th. Finally, BMO Capital Markets set a $125.00 price objective on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Wednesday, September 12th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $132.78.

CASY traded down $0.92 on Thursday, reaching $123.40. The company had a trading volume of 300,353 shares, compared to its average volume of 463,046. The firm has a market capitalization of $4.72 billion, a PE ratio of 32.39, a P/E/G ratio of 3.05 and a beta of 0.49. The company has a quick ratio of 0.27, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Casey’s General Stores has a one year low of $90.42 and a one year high of $130.74.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 10th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share.

A number of hedge funds have recently bought and sold shares of CASY. Aristotle Atlantic Partners LLC lifted its position in shares of Casey’s General Stores by 33.1% in the first quarter. Aristotle Atlantic Partners LLC now owns 2,426 shares of the company’s stock worth $266,000 after purchasing an additional 603 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Casey’s General Stores by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 23,087 shares of the company’s stock worth $2,535,000 after purchasing an additional 637 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Casey’s General Stores by 2.5% in the second quarter. Arizona State Retirement System now owns 26,060 shares of the company’s stock worth $2,738,000 after purchasing an additional 637 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Casey’s General Stores by 0.6% in the second quarter. Macquarie Group Ltd. now owns 121,063 shares of the company’s stock worth $12,721,000 after purchasing an additional 664 shares in the last quarter. Finally, Financial Counselors Inc. lifted its position in shares of Casey’s General Stores by 2.5% in the second quarter. Financial Counselors Inc. now owns 30,927 shares of the company’s stock worth $3,250,000 after purchasing an additional 746 shares in the last quarter. 95.72% of the stock is owned by institutional investors.

In other news, SVP Brian Joseph Johnson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $127.43, for a total transaction of $191,145.00. Following the completion of the transaction, the senior vice president now owns 10,471 shares in the company, valued at approximately $1,334,319.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 31st. This represents a $1.16 annualized dividend and a dividend yield of 0.94%. Casey’s General Stores’s dividend payout ratio (DPR) is 30.45%.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey’s and Casey’s General Store names. The company’s stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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