KeyCorp Lifts Earnings Estimates for Casey's General Stores

Key Points

• KeyCorp raised its Q4 2026 EPS estimate for Casey’s to $3.57 (from $3.20), kept an "Overweight" rating and set an $860 price target while lifting FY2026–FY2027 forecasts.
• Several other major firms have increased targets or reiterated positive views (Goldman Sachs, JPMorgan, Evercore, Wells Fargo), leaving a consensus rating of Moderate Buy and a consensus target of $725.09.
• CASY trades near a 52‑week high (~$822) with a premium valuation (P/E ~47) after an EPS beat ($3.49 vs. $2.94) but a slight revenue miss, and the company announced a $0.57 quarterly dividend (ex‑div May 1), creating upside potential but also valuation risk.

Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) - Investment analysts at KeyCorp upped their Q4 2026 earnings per share estimates for Casey's General Stores in a note issued to investors on Thursday, April 23rd. KeyCorp analyst B. Thomas now anticipates that the company will post earnings per share of $3.57 for the quarter, up from their prior forecast of $3.20. KeyCorp currently has a "Overweight" rating and a $860.00 target price on the stock. The consensus estimate for Casey's General Stores' current full-year earnings is $18.16 per share.

Several other equities research analysts also recently issued reports on CASY. The Goldman Sachs Group increased their price objective on shares of Casey's General Stores from $530.00 to $605.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 11th. JPMorgan Chase & Co. assumed coverage on shares of Casey's General Stores in a research report on Thursday, March 26th. They issued a "neutral" rating and a $719.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a research note on Friday, March 27th. Evercore reiterated an "outperform" rating and set a $780.00 target price on shares of Casey's General Stores in a report on Tuesday, April 21st. Finally, Wells Fargo & Company lifted their price target on Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Casey's General Stores currently has an average rating of "Moderate Buy" and a consensus target price of $725.09.

Casey's General Stores Stock Performance

Shares of CASY stock opened at $822.15 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.64 and a current ratio of 1.04. Casey's General Stores has a 52 week low of $430.00 and a 52 week high of $823.61. The company's 50 day moving average price is $718.23 and its two-hundred day moving average price is $626.97. The company has a market capitalization of $30.39 billion, a P/E ratio of 47.20, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.55. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the firm earned $2.33 EPS. Casey's General Stores's quarterly revenue was up .3% compared to the same quarter last year.

Casey's General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st. Casey's General Stores's payout ratio is currently 13.09%.

Insider Buying and Selling at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 300 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $665.43 per share, with a total value of $199,629.00. Following the completion of the transaction, the director owned 4,499 shares in the company, valued at approximately $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the firm's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the transaction, the insider directly owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Casey's General Stores

A number of institutional investors and hedge funds have recently made changes to their positions in CASY. Cannon Global Investment Management LLC bought a new stake in shares of Casey's General Stores during the 3rd quarter worth about $1,018,000. Advisors Capital Management LLC raised its holdings in Casey's General Stores by 4.4% in the 3rd quarter. Advisors Capital Management LLC now owns 48,355 shares of the company's stock valued at $27,336,000 after acquiring an additional 2,026 shares during the period. Thrivent Financial for Lutherans lifted its position in Casey's General Stores by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 191,156 shares of the company's stock worth $108,065,000 after acquiring an additional 1,950 shares during the last quarter. AE Wealth Management LLC lifted its position in Casey's General Stores by 82.3% during the third quarter. AE Wealth Management LLC now owns 2,574 shares of the company's stock worth $1,456,000 after acquiring an additional 1,162 shares during the last quarter. Finally, Dillon & Associates Inc. boosted its holdings in shares of Casey's General Stores by 25.1% during the third quarter. Dillon & Associates Inc. now owns 25,737 shares of the company's stock worth $14,541,000 after acquiring an additional 5,161 shares during the period. Institutional investors own 85.63% of the company's stock.

Casey's General Stores News Roundup

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

• Positive Sentiment: KeyCorp raised multiple EPS forecasts across FY2026–FY2027 and several quarters (including Q1, Q3 and Q4 2027), reiterated an "Overweight" rating and set an $860 price target — a clear analyst vote of confidence that likely encouraged buying. MarketBeat: KeyCorp updates CASY estimates
• Positive Sentiment: Recent analyst/features coverage (Yahoo) highlights a shifting investment narrative — higher analyst targets and a potential re‑rating on valuation — which can attract momentum investors re‑positioning around growth and multiple expansion. How The Casey’s (CASY) Investment Story Is Shifting With New Analyst Targets And Valuation Narrative
• Positive Sentiment: Independent bullish writeups (The Motley Fool) emphasize Casey's strong convenience-store model, disciplined management and steady cash flow — narratives that support a premium multiple versus peers. Casey's General Stores: A Strong Contender in the Convenience Store Sector
• Positive Sentiment: Zacks published a bullish note listing three growth reasons for CASY, reinforcing the view that fundamentals could support future earnings and investor interest. Is Casey's (CASY) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Broader retail commentary (Zacks) points to rising consumer confidence, which could help fuel convenience-store traffic and fuel volumes — a supportive macro tail but not unique to Casey's. Buy Walmart and 3 More Retail Stocks as Consumer Confidence Surges
• Negative Sentiment: Valuation and downside risk: CASY already trades at an elevated P/E (around 47x). If execution slips or fuel/macro pressures re‑emerge, the multiple could compress — a key risk for investors chasing momentum.

Casey's General Stores Company Profile

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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