The convenience store chain that uses the Casey’s General Stores name is owned by Casey’s General Stores, Inc., the chain’s parent corporation (NASDAQ: CASY). In a research note published on September 14, Jefferies Financial Group lowered its forecasts for Casey’s General Stores’ earnings per share (EPS) for the third quarter of 2023. M. Fishbein of Jefferies Financial Group anticipates that the company will earn $1.51 per share for the quarter. This represents a decline from the previous projection, which was $1.73 per share for the company to earn. According to analysts working in this sector, the earnings per share for Casey’s General Stores are anticipated to be $9.94. According to a forecast by Jefferies Financial Group, Casey’s General Stores would bring in $1.50 per share in profits during the fourth quarter of 2023.
On September 7, the most recent quarterly report for Casey’s General Stores, traded on the NASDAQ under the symbol CASY, was made accessible to the general public.
The company reported earnings per share (EPS) of $4.09 for the fourth quarter, which was $0.98 higher than the consensus expectation of $3.11, according to the company’s earnings report. In their most recent financial report, Casey’s General Stores had a return on equity of 16.73% and a net margin of 2.63%. Both of these figures are significant. The actual revenues for the company for the quarter came in at $4.45 billion, which was less than the average expectation of $4.47 billion coming into the quarter. The company reported $3.19 per share earnings for the same quarter in the prior year’s financial statements. Compared to the same quarter in the prior year, the current quarter had a gain in revenue that was 40.0% more than the previous year. The first-day CASY was available for trading was Friday, and the opening price was $214.66. During the last 52 weeks, the price of Casey’s General Stores has fluctuated between a low of $170.82 and a high of $223.90 at various points. Currently, the debt-to-equity ratio stands at 0.69, the quick ratio stands at 0.54, and the current ratio stands at 0.96.
The company is considered worth $8 billion, while its P/E ratio is 21.49 and its beta equals 0.79. The market value of the company is considered to be that figure.
The moving averages of the company’s stock price over the previous 50 days are $208.58, and over the previous 200 days, they are $201.25. Other financial experts in the stock market have recently issued study papers on the companies whose equities they have been monitoring. On July 18, Benchmark released a report stating that it would begin providing coverage for Casey’s General Stores shares. They recommended purchasing the stock and anticipated that it would eventually reach a price of $230.00. The news that Wells Fargo & Company would provide coverage for Casey’s General Stores was disclosed in a report made available to the general public on May 25. They gave the stock an “overweight” rating and decided that a price objective of $240 was reasonable for it to achieve. In a report issued by StockNews.com on Monday and published online, Casey’s General Stores was downgraded from a “strong-buy” rating to a “buy” recommendation in a stock news report.
BMO Capital Markets upgraded Casey’s General Stores from an “outperform” rating to a “market perform” rating in a report released on Friday, September 9. In addition, they raised their price target on the company from $235 to $250 in a report released on Friday, September 9. Both of these changes were included in the distribution of the report. The price target that Deutsche Bank Aktiengesellschaft had established for the shares of Casey’s General Stores was cut from $276.00 to $269.00, according to a report that was made public on September 9. The research was made public by Deutsche Bank Aktiengesellschaft. One of the equity research analysts recommended buying the stock, while eight industry experts said investors should purchase the company’s shares. Casey’s General Stores has been given a “Moderate Buy” rating on average by Bloomberg.com, and the website says that the website’s average price objective is $245.00. Both of these statistics can be seen on the website.
Several hedge funds and other forms of institutional investors, including pension funds, have recently modified their approach to investing in companies. The State Street Corporation increased its ownership in Casey’s General Stores by purchasing an extra 4.6% of the company during the year’s first three months. Following the acquisition of an additional 61,866 shares during the most recent quarter, State Street Corp. now holds 1,421,540 shares, with a combined market value of $281,707,000. Atlanta Capital Management Co., L.L.C. boosted the amount of Casey’s General Stores shares it owned by 15.3% during the last three months of 2018. Atlanta Capital Management Co., L.L.C. now holds a total of 911,455 shares of the business following the acquisition of an additional 121,264 shares during the most recent quarter. The value of the company’s stock is currently estimated to be $179,876,000. Over the first three months of this year, Brown Advisory Inc. boosted the proportion of Casey’s General Stores shares that it owned by one percent.
Brown Advisory Inc. currently has 803,610 shares in the company following the purchase of an additional 7,598 shares during the most recent quarter. The current market value of all of Brown Advisory Inc.’s shares in the company is a total of $159,244,000. JPMorgan Chase & Co. boosted the amount of Casey’s General Stores stock owned by 0.7% over the final three months of 2018. JPMorgan Chase & Co. now owns a total of 679,114 shares, equivalent to $134,023,000. This comes from the firm’s having acquired 4,999 extra shares during the most recent fiscal quarter.
Additionally, during the second quarter, the National Bank of Canada Financial Institution increased its ownership of Casey’s General Stores by increasing its share count by 0.4%. As a result, National Bank of Canada FI now holds a total of 639,650 shares of the company following the acquisition of an additional 2,400 shares during the most recent quarter. Based on the current stock price, this gives the firm a market value of around $119,352,000. In addition, 76.68% of the total shares issued by the corporation are held in ownership by institutional investors and hedge funds, respectively.
The director of Casey’s General Stores, Mike Spanos, purchased 454 shares of the company’s stock on September 12, another recent occurrence affecting Casey’s General Stores. During the process of acquiring the business, it was found that the price paid for each share was an average of $220.45, and the total purchase price came to be $100,084.30. The director now directly owns 454 shares of the company’s stock as a direct result of the transaction, which has resulted in those shares having a value of about $100,084.30 each. The transaction directly caused this value. The litigation file submitted to the Securities and Exchange Commission (SEC) contains information about the transaction. That file can be obtained by following the URL provided in the previous sentence. “A position in the company equal to 0.28 percent of its total shares is held by company insiders.