Where Casey’s General Stores Stands With Analysts

The Omnipod DASH was also launched in Saudi Arabia and the United Arab Emirates. Together, these countries expand Insulet’s total addressable market by nearly 1 million.The fourth focus area of Insulet Is to drive operational excellence. The availability of Omnipod through the U.S. pharmacy channel has made accessibility easier and more affordable by removing lengthy lock-in periods and high upfront costs. Insulet Corporation (PODD Quick QuotePODD — Free Report) continues to gain on solid prospects in the diabetes market. The company is progressing well with respect to its four-pillar strategy.

Still, shares were higher by more than 2% late Tuesday afternoon. Stocks were down across the board in the final hour of trading. The Nasdaq Composite hit its lows of the session, falling more than 1%. Meanwhile, the Dow Jones Industrial Average turned negative, last down about 26 points, or 0.08%.

The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. One share of CASY stock can currently be purchased for approximately $275.69. 312 employees have rated Casey’s General Stores Chief Executive Officer Darren Rebelez on Glassdoor.com. Darren Rebelez has an approval rating of 69% among the company’s employees. 52.0% of employees surveyed would recommend working at Casey’s General Stores to a friend.

Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. In the last 3 months, 12 analysts have offered 12-month price targets for Casey’s General Stores. The company has an average price target of $269.5 with a high of $285.00 and a low of $231.00. Recently, Casey’s reported its first quarter results for fiscal 2024, with revenues of $3.87 billion (-13.0% YoY) and dil. Revenues for Casey’s are dependent on fuel prices and can be volatile, but earnings were notably strong, beating consensus estimates by $1.19 / share. Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks.

Caseys General Stores Inc CASY:NASDAQ

The company is scheduled to release its next quarterly earnings announcement on Tuesday, December 5th 2023. Against this peer group, Casey’s valuation looks more sensible. Looking forward, analysts are actually estimating a flat year in terms of EPS growth, from $11.91 in fiscal 2023 to $11.81 in fiscal 2024 (Figure 16). Another reason Casey’s jumped following the quarter was because Casey’s updated markets on the number of stores it is currently acquiring to 125, including 63 previously announced from EG group.

Permian Resources, Range Resources, EQT, Denbury and other energy plays are all up 1% or more in early trading. November Brent futures — the global benchmark — also hit a 10-month high Tuesday, reaching $91.50 a barrel. Now is not the time for investors to ditch CVS Health, according to Wolf Research. Chevron was the second-best performer in the Dow, and helped to lift the index. The energy giant was up nearly 2% on the back of rising oil prices.

In fact, with the company expected to add 150 stores (6% unit growth) in fiscal 2024, there is a very high likelihood that 2024 results could be much closer to analyst’s fiscal 2025 estimate of ~$13 / share. Inside sales were also strong, with a 5.4% YoY increase and a 12.1% 2-yr stacked growth rate with a 40.6% gross margins (Figure 8). The introduction of new prepared food items was called out by management for contributing to inside sales growth. First, for those not familiar with Casey’s, the company is the 3rd largest operator of convenience stores in the U.S., with more than 2,500 stores in the U.S.

The company beat expectations of analysts polled by LSEG for earnings per share by 4 cents, coming in at $1.19 when adjusted. But revenue came in slightly below consensus, with Oracle posting $12.45 billion despite analysts anticipating $12.47 billion. According to analysts, Casey’s General Stores’s stock has a predicted upside of 10.65% based on their 12-month price targets.

WestRock shares jump on news of deal with Smurfit Kappa

The Nasdaq Composite fell Tuesday after Oracle shares plunged on disappointing results, and tech stocks came under pressure. Over the previous 90 days, Casey’s General Stores’s stock had 1 upgrade by analysts. Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company’s revenue streams are. Shares of Casey’s General Stores Inc. (CASY) hit an all-time high after the convenience store operator posted better-than-expected profit on demand for pizzas.

• «We expect the earnings upgrade cycle to continue, with us 7% ahead of company consensus in 2024,» analyst Sachin Jain wrote in a Tuesday note.
• Wall Street sees a handful of positives coming out Disney’s deal with Charter Communications, settling a dispute that left millions of customers without access to some of the entertainment company’s programming.
• One share of CASY stock can currently be purchased for approximately $275.69.
• West Texas Intermediate crude oil futures settled at $88.84 a barrel.

M&A has been a core part of Casey’s growth formula in recent years, as Casey’s is a natural consolidator within the fragmented convenience store industry (Figure 13). This has helped push fuel margins up from the ~20 cent / gallon level to mid 30 cents range since 2020, and recently to the 40 cent range (Figure 10). Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days.

Casey’s Agrees to Acquire 63 Convenience Stores From EG Group

Another risk to Casey’s is fuel margins, which have stayed elevated in the past few years. Operationally, Casey’s earnings beat was driven by a number of factors. First, fuel margins were strong, at 41.6 cents / gallon, compared to management’s guidance of mid-30s despite a steep decline in fuel prices from $4.49 in the year-ago period to $3.40 per gallon in Q1/F24 (Figure 7). Casey’s General Stores, Inc. engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

The European Central Bank is also set to announce its latest interest rate decision Thursday. Apple shares were lower by 1.7% after the unveiling of a new iPhone model this afternoon. https://1investing.in/ Meanwhile, Adobe shares also dropped about 4% ahead of the company’s earnings results this week. Analysts like Casey’s General Stores more than other Retail/Wholesale companies.

Oracle stock on pace for worst day since 2002

However, Arm will not offer more shares, as SoftBank wants to retain a 90.6% stake in Arm following the IPO, the sources said. This means Arm will likely be able to price the IPO «at the top or above» the $47-to-$51-per-share range, the report said. It came after the company’s creditors reportedly voted to extend repayments on example of unsystematic risk six onshore bonds by three years. Meanwhile, shares of Chevron were among the few premarket gainers. Bank of America says the Dow Theory remains intact, even with stocks off their July highs. The Dow Theory is a positive signal for equities, suggesting stocks are in an upward trend if new highs are reached in two indexes.

Casey’s remains an extremely well-oiled machine (pardon the pun), consistently delivering double-digit earnings growth over the past decade. Investors have rewarded the company with a 23.5x Fwd P/E multiple, near the high end of peers. I believe Casey’s is a classic GARP story with consistent low single-digit unit growth, mid single-digit same store sales growth, and double-digit earnings growth.

The company owns of its real estate, including nearly all of the stores, distribution centres, and some of its subsidiaries’ facilities. More than half of the company’s stores are located in areas with populations of fewer than 5,000 people. High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

Key Earnings Data

Shareholders of record on Wednesday, November 1st will be given a dividend of $0.43 per share on Wednesday, November 15th. This represents a $1.72 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, October 31st.

Style is calculated by combining value and growth scores, which are first individually calculated. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. Further, Insulet’s financial results continue to largely depend on the performance of its lead product — Omnipod System. Per the company, any adverse changes in the market acceptance of the product or worsening of the factors that negatively influence sales will dent the company’s financials majorly. Omnipod 5 continues to be a driving force behind U.S. growth. Nvidia’s «underappreciated» pipeline of generative artificial intelligence products could spell major upside ahead for its stock despite its 8% pullback so far this month, according to Bank of America.

«We think the next 12-18m goes a long way to resolving» the debate on the durability of growth, Bank of America’s Sachin Jain said in a note. Higher pipeline forecasts are driving sales growth estimates, he added. Morgan Stanley analyst Benjamin Swinburne views the agreement as a value adder to the linear bundle and one that puts Charter back into the video business. It also expands content access for Charter customers while increasing the distribution of Disney’s content and growing advertising video on demand. Casey’s General Stores Inc CASY reported a first-quarter FY24 sales decline of 13.2% year-on-year to $3.87 billion, missing the analyst consensus of $3.89 billion.

The consensus rating for Casey’s General Stores is Moderate Buy while the average consensus rating for retail/wholesale companies is Hold. YEXT, +4.01% rallied more than 17% in the premarket Wednesday after the digital platform beat Wall Street expectations for its fiscal first quarter and raised guidance for the year… As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Casey’s General Stores declared a quarterly dividend on Monday, September 11th.

This has resulted in peer-leading financial performance, with Casey’s delivering consistent double-digit growth in EBITDA and earnings in the past decade (Figure 5). Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.

Finally, investors should note that Casey’s has deviated from its tradition of adding stores organically, with several large transactions completed in recent years. While large M&A transactions can add many stores at once, it also adds execution risk, as well as the risk of Casey’s overpaying. Casey’s targets chains that are over-indexed to tobacco, with little food service offerings, and lack scale and capital. Casey’s is then able to acquire these units at a 6-9x pre-synergy EBITDA multiple, and after spending capital to remodel the stores, is able to get a valuation uplift to Casey’s 10-11x trading multiple (Figure 14).

• It entered the Asia Pacific region through Australia and also expanded into Turkey.
• While management has been coy about the sustainability of 40 cents+ fuel margins, there does not appear to be any near-term impetus for margins to return to historical sub-35 cent levels.
• The energy giant was up nearly 2% on the back of rising oil prices.

According to 9 analysts, the average rating for CASY stock is «Buy.» The 12-month stock price forecast is $276.0, which is a decrease of -0.92% from the latest price. Casey’s General Stores saw a increase in short interest in the month of August. As of August 31st, there was short interest totaling 746,200 shares, an increase of 25.5% from the August 15th total of 594,500 shares. Based on an average trading volume of 254,400 shares, the short-interest ratio is presently 2.9 days. As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.