Zacks Research Issues Positive Outlook for CASY Earnings

Key Points

• Zacks Research raised its Q4 2028 EPS estimate for Casey’s General Stores to $4.82 per share from $4.36, reinforcing a generally positive earnings outlook even though the firm still rates the stock a Hold.
• Casey’s recently beat quarterly earnings and revenue expectations, reporting $4.37 EPS versus $3.31 expected and $4.57 billion in revenue, with revenue up 14.5% year over year.
• The company also increased its quarterly dividend to $0.65 per share from $0.57, while several analysts have lifted price targets and the stock currently carries a Moderate Buy consensus rating.

Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) - Equities researchers at Zacks Research boosted their Q4 2028 EPS estimates for shares of Casey's General Stores in a research report issued to clients and investors on Tuesday, June 23rd. Zacks Research analyst Team now anticipates that the company will earn $4.82 per share for the quarter, up from their prior estimate of $4.36. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Casey's General Stores' current full-year earnings is $21.05 per share.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its earnings results on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $3.31 by $1.06. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the firm earned $2.63 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year.

A number of other brokerages have also weighed in on CASY. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. KeyCorp raised their price target on Casey's General Stores from $950.00 to $970.00 and gave the company an "overweight" rating in a report on Thursday, June 11th. BMO Capital Markets lifted their price target on Casey's General Stores from $700.00 to $950.00 and gave the company a "market perform" rating in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,000.00 price objective on shares of Casey's General Stores in a report on Monday, June 15th. Finally, Evercore reissued an "outperform" rating and issued a $990.00 target price on shares of Casey's General Stores in a report on Friday, June 12th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $923.00.

Casey's General Stores Trading Down 3.7%

NASDAQ CASY opened at $801.35 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $29.66 billion, a P/E ratio of 41.82, a P/E/G ratio of 2.51 and a beta of 0.61. Casey's General Stores has a 52-week low of $490.00 and a 52-week high of $927.85. The firm has a 50-day moving average price of $816.66 and a 200 day moving average price of $702.34.

Casey's General Stores Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Saturday, August 1st will be issued a dividend of $0.65 per share. This is a boost from Casey's General Stores's previous quarterly dividend of $0.57. This represents a $2.60 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, July 31st. Casey's General Stores's payout ratio is presently 11.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CASY. Northwestern Mutual Wealth Management Co. raised its position in Casey's General Stores by 179,938.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company's stock worth $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Norges Bank acquired a new stake in shares of Casey's General Stores in the fourth quarter valued at approximately $265,163,000. Franklin Resources Inc. grew its position in shares of Casey's General Stores by 40.9% in the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company's stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Casey's General Stores by 175.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 471,536 shares of the company's stock worth $260,622,000 after purchasing an additional 300,249 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in shares of Casey's General Stores by 115.9% during the 4th quarter. Corient Private Wealth LLC now owns 423,666 shares of the company's stock worth $234,164,000 after purchasing an additional 227,403 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

Key Casey's General Stores News

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

• Positive Sentiment: Casey’s unveiled a new three-year strategic plan, building on a prior plan that it says exceeded targets, added more than 500 stores, and helped the company join the S&P 500. Management says the next phase will continue to focus on growth in stores, food, and profitability. Casey’s Announces New Three-Year Strategic Plan
• Positive Sentiment: Zacks Research raised multiple forward earnings estimates for Casey’s, including fiscal 2027, 2028, and 2029, signaling confidence that earnings can continue rising. Higher EPS forecasts can support a stronger valuation if execution remains solid. Dividend Increases article mentioning CASY
• Positive Sentiment: Several analyst and research pieces highlighted Casey’s as a momentum and growth name, citing earnings growth, price strength, food sales, fuel margins, digital engagement, and store expansion as reasons the business may keep outperforming. Best Momentum Stocks to Buy for June 24th
• Neutral Sentiment: Casey’s held an analyst/investor day, with a transcript and slideshow released, which likely reinforced the company’s long-term strategy but did not include a specific new financial surprise on its own. Casey’s Analyst/Investor Day Transcript
• Neutral Sentiment: Some commentary noted that Casey’s remains a strong operator, but its valuation is rich, meaning the stock may have less room for error if growth slows or costs rise. Is CASY Stock Too Expensive or Still Worth Buying Now?
• Negative Sentiment: A Seeking Alpha article questioned whether the “Costco effect” has gone too far, reflecting a more skeptical view of the stock’s premium pricing and leaving room for investors to worry about upside from current levels. Casey’s General Stores: The Costco Effect Has Gone Too Far

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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