Zacks Research Issues Pessimistic Forecast for CASY Earnings

Key Points

• Zacks Research lowered Casey’s Q2 fiscal 2027 EPS estimate to $5.73 from $6.30 and maintained a “Hold” rating.
• Despite the downgrade, Casey’s recently exceeded quarterly earnings and revenue expectations, reporting $7.37 EPS and $5.68 billion in revenue, up 24.3% year over year.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $840.69, while the company declared a quarterly dividend of $0.65 per share.

Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) - Stock analysts at Zacks Research lowered their Q2 2027 earnings per share (EPS) estimates for Casey's General Stores in a report issued on Tuesday, September 22nd. Zacks Research analyst Team now forecasts that the company will post earnings of $5.73 per share for the quarter, down from their prior estimate of $6.30. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Casey's General Stores' current full-year earnings is $21.43 per share.

Several other research firms have also recently issued reports on CASY. Wells Fargo & Company decreased their price objective on shares of Casey's General Stores from $960.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Weiss Ratings cut shares of Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, July 21st. The Goldman Sachs Group set a $750.00 price target on Casey's General Stores in a research report on Wednesday, September 9th. Royal Bank Of Canada dropped their price target on Casey's General Stores from $913.00 to $910.00 and set a "sector perform" rating on the stock in a research note on Wednesday, September 9th. Finally, UBS Group reduced their price objective on shares of Casey's General Stores from $925.00 to $720.00 and set a "neutral" rating for the company in a research note on Thursday, September 10th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $840.69.

Casey's General Stores Price Performance

Shares of CASY opened at $597.31 on Thursday. Casey's General Stores has a one year low of $497.38 and a one year high of $927.85. The stock's fifty day moving average is $778.47 and its 200-day moving average is $781.15. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.61 and a current ratio of 1.02. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.78 by $0.59. Casey's General Stores had a return on equity of 19.68% and a net margin of 4.14%.The business had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the company posted $5.77 EPS. The business's revenue for the quarter was up 24.3% compared to the same quarter last year.

Casey's General Stores Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Sunday, November 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $2.60 dividend on an annualized basis and a yield of 0.4%. Casey's General Stores's payout ratio is presently 12.52%.

Insider Activity

In other Casey's General Stores news, CEO Darren M. Rebelez sold 19,000 shares of Casey's General Stores stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total transaction of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company's stock, valued at $71,469,394.04. This trade represents a 17.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Chad Frazell sold 3,013 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the transaction, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,243 shares of company stock valued at $24,421,877 in the last three months. 0.67% of the stock is currently owned by insiders.

Institutional Trading of Casey's General Stores

Several hedge funds and other institutional investors have recently modified their holdings of the company. Daiichi Life Insurance Co. Ltd. acquired a new position in Casey's General Stores in the second quarter worth approximately $1,222,000. Geode Capital Management LLC raised its position in Casey's General Stores by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company's stock valued at $420,416,000 after acquiring an additional 52,250 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in Casey's General Stores by 103.5% in the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company's stock valued at $1,782,000 after acquiring an additional 1,245 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Casey's General Stores by 52.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 17,079 shares of the company's stock valued at $12,431,000 after acquiring an additional 5,846 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC bought a new stake in Casey's General Stores in the fourth quarter worth approximately $1,338,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Key Casey's General Stores News

Here are the key news stories impacting Casey's General Stores this week:

• Positive Sentiment: Zacks raised its EPS forecasts for fiscal 2027 to $21.37 from $21.12, fiscal 2028 to $23.73 from $23.11, and fiscal 2029 to $26.28 from $25.37. These upward full-year revisions provide the strongest bullish signal for CASY. Casey's General Stores stock coverage
• Positive Sentiment: Quarterly estimates were also increased for Q3 fiscal 2027, Q1 fiscal 2028, Q3 fiscal 2028 and Q1 fiscal 2029. The largest increases were Q1 fiscal 2028, to $7.37 from $6.93, and Q1 fiscal 2029, to $8.11 from $7.55.
• Positive Sentiment: The revisions build on Casey’s recent fundamental momentum: its latest reported quarter exceeded analyst expectations for both earnings and revenue, with revenue rising 24.3% year over year. That backdrop may be supporting investor confidence in continued earnings growth.
• Neutral Sentiment: Zacks kept its Hold recommendation unchanged, indicating that the improved earnings outlook has not yet led the firm to view CASY as clearly undervalued or warranting a Buy rating.
• Negative Sentiment: Some estimates were trimmed, including Q4 fiscal 2027 EPS to $4.25 from $4.28, Q2 fiscal 2028 EPS to $6.72 from $6.83, and Q4 fiscal 2028 EPS to $4.81 from $4.82. These modest reductions temper the otherwise positive revision trend.

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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