William Blair Weighs in on Casey’s General Stores Inc’s Q3 2019 Earnings (CASY)

Casey’s General Stores Inc (NASDAQ:CASY) – Equities researchers at William Blair increased their Q3 2019 earnings estimates for Casey’s General Stores in a research note issued to investors on Tuesday, September 11th, according to Zacks Investment Research. William Blair analyst R. Domyancic now expects that the company will earn $0.65 per share for the quarter, up from their previous estimate of $0.62. William Blair also issued estimates for Casey’s General Stores’ Q4 2019 earnings at $0.66 EPS, FY2019 earnings at $4.70 EPS and FY2020 earnings at $4.87 EPS.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, September 10th. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.23. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.57 billion. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS.

Several other brokerages also recently issued reports on CASY. Jefferies Financial Group increased their price objective on shares of Casey’s General Stores from $134.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, September 12th. Wells Fargo & Co increased their target price on shares of Casey’s General Stores from $97.00 to $120.00 and gave the stock a “market perform” rating in a report on Wednesday, September 12th. Royal Bank of Canada set a $130.00 target price on shares of Casey’s General Stores and gave the stock a “hold” rating in a report on Wednesday, September 12th. Deutsche Bank increased their target price on shares of Casey’s General Stores to $142.00 and gave the stock a “buy” rating in a report on Wednesday, September 12th. Finally, Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating in a report on Tuesday, September 18th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $132.78.

Shares of CASY traded down $0.92 on Thursday, reaching $123.40. 300,353 shares of the company’s stock were exchanged, compared to its average volume of 463,046. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.27. Casey’s General Stores has a 12 month low of $90.42 and a 12 month high of $130.74. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 3.05 and a beta of 0.49.

A number of hedge funds have recently made changes to their positions in CASY. BlackRock Inc. lifted its stake in shares of Casey’s General Stores by 2.4% during the 2nd quarter. BlackRock Inc. now owns 3,152,172 shares of the company’s stock worth $331,231,000 after buying an additional 75,313 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of Casey’s General Stores by 14.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,376,978 shares of the company’s stock worth $144,692,000 after buying an additional 174,842 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in shares of Casey’s General Stores by 16.9% during the 1st quarter. Iridian Asset Management LLC CT now owns 1,277,835 shares of the company’s stock worth $140,268,000 after buying an additional 184,641 shares during the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Casey’s General Stores by 5.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 666,602 shares of the company’s stock worth $70,046,000 after buying an additional 36,588 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Casey’s General Stores by 43.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 658,071 shares of the company’s stock worth $69,152,000 after buying an additional 198,263 shares during the last quarter. Hedge funds and other institutional investors own 95.72% of the company’s stock.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, October 31st. Casey’s General Stores’s dividend payout ratio is currently 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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Earnings History and Estimates for Casey`s General Stores (NASDAQ:CASY)

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