Jefferies Financial Group Brokers Increase Earnings Estimates for Casey’s General Stores Inc (CASY)
Casey’s General Stores Inc (NASDAQ:CASY) – Jefferies Financial Group upped their Q3 2019 earnings per share estimates for shares of Casey’s General Stores in a report released on Tuesday, November 20th. Jefferies Financial Group analyst C. Mandeville now expects that the company will post earnings per share of $0.62 for the quarter, up from their previous estimate of $0.56. Jefferies Financial Group has a “Buy” rating and a $142.00 price target on the stock. Jefferies Financial Group also issued estimates for Casey’s General Stores’ FY2019 earnings at $4.85 EPS, Q2 2020 earnings at $1.94 EPS, Q3 2020 earnings at $0.68 EPS, FY2021 earnings at $5.58 EPS and FY2022 earnings at $6.52 EPS.
Other research analysts have also recently issued reports about the company. BidaskClub raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Stephens set a $137.00 price objective on Casey’s General Stores and gave the company a “buy” rating in a research report on Wednesday, September 12th. BMO Capital Markets lifted their price objective on Casey’s General Stores from $92.00 to $96.00 and gave the company a “hold” rating in a research report on Thursday, August 23rd. ValuEngine raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Wednesday, August 22nd. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 18th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $133.89.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, September 10th. The company reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.23. Casey’s General Stores had a return on equity of 12.38% and a net margin of 3.73%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the firm earned $1.46 EPS. The business’s quarterly revenue was up 23.6% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of CASY. Millennium Management LLC lifted its holdings in Casey’s General Stores by 56.4% in the 1st quarter. Millennium Management LLC now owns 7,826 shares of the company’s stock worth $859,000 after purchasing an additional 2,821 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Casey’s General Stores by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 163,718 shares of the company’s stock worth $17,971,000 after purchasing an additional 1,410 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Casey’s General Stores by 32.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,052 shares of the company’s stock worth $635,000 after purchasing an additional 1,470 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Casey’s General Stores in the 2nd quarter worth approximately $499,000. Finally, Ramsey Quantitative Systems purchased a new position in Casey’s General Stores in the 2nd quarter worth approximately $364,000. 95.66% of the stock is currently owned by institutional investors.
In related news, SVP Brian Joseph Johnson sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $127.43, for a total value of $191,145.00. Following the transaction, the senior vice president now directly owns 10,471 shares of the company’s stock, valued at approximately $1,334,319.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $1.16 dividend on an annualized basis and a yield of 0.92%. Casey’s General Stores’s dividend payout ratio is presently 30.45%.
About Casey’s General Stores
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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