Casey's General Stores (NASDAQ:CASY) Issues Earnings Results, Beats Estimates By $0.59 EPS

Key Points

• Casey’s beat quarterly expectations: Earnings per share came in at $7.37, $0.59 above estimates, while revenue reached $5.68 billion versus the $5.56 billion consensus.
• The stock fell 3.0%: Shares declined $22.60 to $733.49 during Tuesday trading despite the earnings beat.
• Analyst sentiment remains favorable: Casey’s has a “Moderate Buy” consensus rating, with 14 Buy ratings and a consensus price target of $928.53.

Casey's General Stores (NASDAQ:CASY - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $7.37 earnings per share for the quarter, topping the consensus estimate of $6.78 by $0.59, FiscalAI reports. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.56 billion. Casey's General Stores had a return on equity of 18.73% and a net margin of 4.07%.

Casey's General Stores Trading Down 3.0%

Shares of NASDAQ:CASY traded down $22.60 during trading on Tuesday, hitting $733.49. The company had a trading volume of 813,643 shares, compared to its average volume of 492,592. The stock has a market cap of $27.15 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59. Casey's General Stores has a one year low of $497.38 and a one year high of $927.85. The company has a fifty day simple moving average of $826.62 and a two-hundred day simple moving average of $786.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Insider Activity

In related news, CFO P Jr sold 5,700 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the sale, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. This trade represents a 16.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Allison Wing sold 530 shares of Casey's General Stores stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $837.58, for a total transaction of $443,917.40. Following the transaction, the director directly owned 3,042 shares of the company's stock, valued at $2,547,918.36. The trade was a 14.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,243 shares of company stock worth $24,421,877. Company insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Osterweis Capital Management Inc. bought a new position in shares of Casey's General Stores during the second quarter valued at approximately $45,000. Rossby Financial LCC raised its holdings in shares of Casey's General Stores by 23.3% in the fourth quarter. Rossby Financial LCC now owns 111 shares of the company's stock worth $61,000 after buying an additional 21 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of Casey's General Stores during the 3rd quarter worth approximately $62,000. Caitong International Asset Management Co. Ltd grew its stake in Casey's General Stores by 44.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 120 shares of the company's stock worth $68,000 after acquiring an additional 37 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Casey's General Stores by 129.6% in the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company's stock valued at $81,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 85.63% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CASY shares. Morgan Stanley upgraded shares of Casey's General Stores to a "buy" rating in a research report on Wednesday, June 10th. Weiss Ratings downgraded shares of Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, July 21st. Zacks Research cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Deutsche Bank Aktiengesellschaft set a $927.00 price target on Casey's General Stores in a research note on Friday. Finally, Capital One Financial initiated coverage on Casey's General Stores in a report on Monday, June 22nd. They set an "equal weight" rating and a $896.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $928.53.

About Casey's General Stores

Casey's General Stores, Inc NASDAQ: CASY is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company's stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.

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