Casey's General Stores Stock (NASDAQ: CASY)

Casey's General Stores (NASDAQ:CASY) Stock, Quote.Headers.trade-ideas

Casey's General Stores

Casey's serves as the nation's third-largest convenience store chain with its more than 2,600 locations primarily positioned in the Midwest United States. About half of Casey's stores are located in rural towns with populations under 5,000. While fueling stations serve as a key traffic generator, about two thirds of the company's gross profit stems from in-store sales of grocery items, prepared meals, and general merchandise. Casey's owns more than 90% of its stores and operates most of its warehousing and distribution processes internally.

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Casey&#39;s General Stores (NASDAQ: CASY) came out with quarterly earnings of $4.83 per share, beating the Zacks Consensus Estimate of $4.54 per share. This compares to earnings of $4.52 per share a year ago. These figures are adjusted for non-recurring items.

Casey&#39;s General Stores Tops Q1 Earnings Estimates

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Wall Street traded slightly higher on Wednesday, rebounding after the sharp sell-off a day earlier that saw chipmakers tumble, with NVIDIA Corp. (NASDAQ:NVDA) shedding around $280 billion in market value — the largest single-day drop in history.

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Casey&#39;s Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Caseys General Stores, Inc. - Common Stock

Casey's General Stores Inc

Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) has been analyzed by 14 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $400.5, a high estimate of $444.00, and a low estimate of $300.00. Marking an increase of 2.41%, the current average surpasses the previous average price target of $391.08. 
<img src="https://www.benzinga.com/files/images/story/2024/1726754453_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Casey's General Stores's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Royall</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Underweight</td>
<td>$337.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Anthony Bonadio</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$425.00</td>
<td>$415.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Irene Nattel</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$403.00</td>
<td>$393.00</td>
</tr>
<tr>
<td>John Royall</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$300.00</td>
<td>$298.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Krisztina Katai</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$444.00</td>
<td>$420.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$435.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Irene Nattel</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$393.00</td>
<td>$393.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$410.00</td>
<td>$405.00</td>
</tr>
<tr>
<td>Charles Cerankosky</td>
<td>Northcoast Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$410.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Casey's General Stores. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Casey's General Stores compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Casey's General Stores's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Casey's General Stores's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CASY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Casey's General Stores analyst ratings.</a>
<h2>Discovering Casey's General Stores: A Closer Look</h2>
Casey's serves as the nation's third-largest convenience store chain with its more than 2,600 locations primarily positioned in the Midwest United States. About half of Casey's stores are located in rural towns with populations under 5,000. While fueling stations serve as a key traffic generator, about two thirds of the company's gross profit stems from in-store sales of grocery items, prepared meals, and general merchandise. Casey's owns more than 90% of its stores and operates most of its warehousing and distribution processes internally.
<h3>Casey's General Stores's Economic Impact: An Analysis</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Casey's General Stores's revenue growth over a period of 3 months has been noteworthy. As of 31 July, 2024, the company achieved a revenue growth rate of approximately 5.91%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Consumer Staples sector.
Net Margin: Casey's General Stores's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.4% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 5.83%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Casey's General Stores's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.81% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Casey's General Stores's debt-to-equity ratio is below the industry average. With a ratio of 0.51, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: Simplified</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Closer Look at 14 Analyst Recommendations For Casey's General Stores

JP Morgan analyst John Royall downgrades Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) from Neutral to Underweight and raises the price target from $300 to $337.

Downgrades

JP Morgan Downgrades Casey's General Stores to Underweight, Raises Price Target to $337

Benchmark analyst John Lawrence reiterates Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) with a Buy and maintains $410 price target.

Reiteration

Benchmark Reiterates Buy on Casey's General Stores, Maintains $410 Price Target

Wells Fargo analyst Anthony Bonadio maintains Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) with a Overweight and raises the price target from $415 to $425.

Wells Fargo Maintains Overweight on Casey's General Stores, Raises Price Target to $425

WIIM

Casey's General Stores shares are trading higher after RBC Capital raised its price target on the stock from $393 to $403.

Casey&#39;s General Stores (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casy#NASDAQ">CASY</a>) came out with quarterly earnings of $4.83 per share, beating the Zacks Consensus Estimate of $4.54 per share. This compares to earnings of $4.52 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 6.39%. A quarter ago, it was expected that this convenience store chain would post earnings of $1.70 per share when it actually produced earnings of $2.34, delivering a surprise of 37.65%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Casey&#39;s, which belongs to the Zacks Retail - Convenience Stores industry, posted revenues of $4.1 billion for the quarter ended July 2024, missing the Zacks Consensus Estimate by 0.34%. This compares to year-ago revenues of $3.87 billion. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
Casey&#39;s shares have added about 29.2% since the beginning of the year versus the S&amp;P 500&#39;s gain of 15.9%.
<h2>What&#39;s Next for Casey&#39;s?</h2>
While Casey&#39;s has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Casey&#39;s: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $4.43 on $4.11 billion in revenues for the coming quarter and $14.06 on $15.46 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Convenience Stores is currently in the top 40% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Retail-Wholesale sector, Kroger (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kr#NYSE">KR</a>), is yet to report results for the quarter ended July 2024. The results are expected to be released on September 12.
This supermarket chain is expected to post quarterly earnings of $0.91 per share in its upcoming report, which represents a year-over-year change of -5.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Kroger&#39;s revenues are expected to be $34.09 billion, up 0.7% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2331755/casey-s-general-stores-casy-tops-q1-earnings-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2331755">To read this article on Zacks.com click here.</a>

Casey's General Stores Tops Q1 Earnings Estimates

Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) has outperformed the market over the past 5 years by 4.21% on an annualized basis producing an average annual return of 17.16%. Currently, Casey's General Stores has a market capitalization of $13.92 billion. 
Buying $1000 In CASY: If an investor had bought $1000 of CASY stock 5 years ago, it would be worth $2,242.50 today based on a price of $375.17 for CASY at the time of writing.
<h3>Casey's General Stores's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725552012_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $2,200 Today

RBC Capital analyst Irene Nattel maintains Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) with a Sector Perform and raises the price target from $393 to $403.

RBC Capital Maintains Sector Perform on Casey's General Stores, Raises Price Target to $403

Casey's General Stores shares are trading higher following Q1 financial results.

JP Morgan analyst John Royall maintains Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) with a Neutral and raises the price target from $298 to $300.

JP Morgan Maintains Neutral on Casey's General Stores, Raises Price Target to $300

Under its previously communicated fiscal 2025&nbsp;outlook, the Company expects EBITDA to increase at least&nbsp;8%. The Company expects inside same-store sales to increase&nbsp;3%&nbsp;to&nbsp;5%&nbsp;and inside margin comparable to fiscal 2024. The Company expects same-store fuel gallons sold to be between negative&nbsp;1%&nbsp;to positive&nbsp;1%.
Total operating expenses are expected to increase approximately&nbsp;6%&nbsp;to&nbsp;8%. Net interest expense is expected to be approximately&nbsp;$56 million. Depreciation and amortization is expected to be approximately&nbsp;$390 million&nbsp;and the purchase of property and equipment is expected to be approximately&nbsp;$575 million.

Guidance

Casey's Says Not Updating Its FY25 Outlook Until After Closing Of Fikes Deal, With Exception Of Store Growth, Which Is Now Expected To Be ~270 Units

Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) reported quarterly earnings of $4.83 per share which beat the analyst consensus estimate of $4.58 by 5.46 percent. The company reported quarterly sales of $4.10 billion which missed the analyst consensus estimate of $4.20 billion by 2.49 percent. This is a 5.92 percent increase over sales of $3.87 billion the same period last year.

Earnings Misses

Casey's General Stores Q1 2025 GAAP EPS $4.83 Beats $4.58 Estimate, Sales $4.10B Miss $4.20B Estimate

Wall Street traded slightly higher on Wednesday, rebounding after the sharp sell-off a day earlier that saw chipmakers tumble, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shedding around $280 billion in market value — the largest single-day drop in history.
Investors processed fresh insights from July labor market statistics, which confirmed cooling conditions as job openings fell to their lowest level in three years, almost closing the <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40711148/july-job-openings-fall-to-3-year-lows-gap-with-unemployment-narrows-to-near-parit">gap with unemployment levels.</a>
Expectations for a Federal Reserve interest rate cut improved, with market participants now assigning a 43% implied probability of a 50-basis-point cut in September, up from 38% the previous day.
Attention now shifts to key August labor data, with the ADP private payrolls report due Thursday, followed by the official jobs report on Friday.
Major equity indices were up marginally, while bonds outperformed, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rising 0.7%, adding to Tuesday&#8217;s 1.3% gain.
Notably, chipmakers, as tracked by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), rose 1%. 
The U.S. dollar weakened, losing 0.4% as falling Treasury yields weighed on the currency. Gold inched up 0.2%, set to break a three-day losing streak.
Oil prices continued to decline, falling 0.7% despite OPEC+ announcing a delay in its planned production increases.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bounced back 1.6%, trading at $58,200.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance Among Major Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,162.23</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,033.77</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,985.75</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,535.16</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $552.98.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.2% to $411.03.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.4% to $463.53.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) increase 0.4% to $214.31.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up by 0.8%, while the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) sunk 20% after missing quarterly earnings estimates and delivering a guidance cut.</li>
<li>Other stocks reacting to company earnings were Dicks Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) down 5%, Hormel Foods Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) down 6.6% and Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) up 2.2%.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) fell 3.2% after UBS downgraded the Dutch chipmaker from Buy to Neutral, also cutting the price target. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 5% on upbeat sales data in China. The China Passenger Car Association reported that sales of Tesla's China-made electric vehicles rose 17% compared to July and increased 3% year-over-year.</li>
<li>Companies reporting earnings after the close include Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>), Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Caseys General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>).</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40713134/bank-of-canada-cuts-rates-again-as-inflation-labor-market-cool-canadian-stocks-rebound-loonie-st">Bank Of Canada Cuts Rates Again As Inflation, Labor Market Cool: Canadian Stocks Rebound, Loonie Strengthens</a></li>
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This image was created using artificial intelligence MidJourney.

Stocks Rebound, Chipmakers Halt Bloodbath As Traders Upgrade Rate Cut Wagers; Tesla Rises, Dollar Tree In Free Fall: What's Driving Markets Wednesday?

Casey&#8217;s General Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) will release earnings results for its first quarter, after the <a href="https://www.benzinga.com/quote/CASY/earnings">closing bell on Wednesday, Sept. 4.</a>
Analysts expect the Ankeny, Iowa-based company to report quarterly earnings at $4.52 per share, compared to $4.52 per share in the year-ago period. Casey&#8217;s is projected to post revenue of $4.2 billion, according to data from <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
On July 26, Caseys announced it will acquire Fikes Wholesale for $1.145 billion to expand its presence in Texas and southern markets.
Casey&#8217;s shares fell 2% to close at $354.92 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61c1b9e6d64b280001d63f1f/john-lawrence">Benchmark analyst John Lawrence</a> reiterated a Buy rating with a price target of $410 on Sept. 3. This analyst has an accuracy rate of 66%.</li>
<li>Deutsche Bank analyst Krisztina Katai maintained a Buy rating and boosted the price target from $420 to $444 on July 29. This analyst has an accuracy rate of 63%.</li>
<li><a href="https://widgets.benzinga.com/analyst-stock-ratings/analyst/62f38f7fd1d4e500016776ae/anthony-bonadio">Wells Fargo analyst Anthony Bonadio</a> maintained an Overweight rating and increased the price target from $340 to $415 on June 13. This analyst has an accuracy rate of 81%.</li>
<li>BMO Capital analyst Kelly Bania maintained a Market Perform rating and boosted the price target from $305 to $400 on June 13. This analyst has an accuracy rate of 62%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6054b39f8b5009000114d44f/corey-tarlowe">Jefferies analyst Corey Tarlowe</a> maintained a Buy rating and raised the price target from $342 to $445 on June 12. This analyst has an accuracy rate of 65%.</li>
</ul>
Considering buying CASY stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="506" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04005019/image-1-4-1024x506.png" alt="" class="wp-image-528358" style="width:660px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04005019/image-1-4-1024x506.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04005019/image-1-4-300x148.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04005019/image-1-4-768x380.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/04005019/image-1-4.png 1337w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40685695/wall-streets-most-accurate-analysts-say-hold-these-3-defensive-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Defensive Stocks With Over 3% Dividend Yields</a></li>
</ul>

Casey's Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

The September slump will likely continue as the index futures are sharply lower early Wednesday. Traders will likely <a href="https://www.benzinga.com/markets/equities/24/09/40696921/traders-bet-aggressively-on-rate-cuts-ahead-of-jobs-data-5-etfs-to-watch-this-week">wait and watch to see how the labor market data,</a> due for the week, pan out and their implications for the Fed funds rate. Wharton Professor and WisdomTree Chief Economist Jeremy Siegel said the report will decide whether the cut is going to be 25 basis points or double as much.
Tech stocks were lower in premarket trading, with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) down over 1%. The CBOE Volatility Index, or VIX, spiked nearly 10% to $22.76. The Labor Department&#8217;s job opening data and the Beige Book and a few earnings reports are also on traders&#8217; radar. If these rule out a recession, traders may go bargain hunting to take advantage of Tuesday&#8217;s pullback. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.50%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.31%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.19%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.29%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Wednesday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.36% to $550.90, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slid 0.60% to $459.05, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
A tech tumble that morphed into a broader market weakness dragged stocks sharply lower on Tuesday, with a trio of weak data serving as a trigger. The Institute for Supply Management&#8217;s manufacturing purchasing managers&#8217; index and S&amp;P Global&#8217;s final manufacturing PMI came in worse than expected and the Commerce Department said construction spending fell more than expected in July. The string of negative data reignited recession talks, pushing traders on the defensive.
The averages opened lower and fell sharply in early trading. The sell-off continued despite a slower momentum for the remainder of the session. The tech-heavy Nasdaq Composite settled at the lowest level since Aug. 12 and the S&amp;P 500 at a two-week low. All three indices fell by the most since the Aug. 5 global sell-off.
IT, communication services, energy, industrial and material stocks came under intense selling pressure, while defensive real estate and consumer staple stocks bucked the downtrend.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-3.26%</td>
<td>17,136.30</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-2.12%</td>
<td>5,528.93</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.51%</td>
<td>40,936.93</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-3.09%</td>
<td>2,149.21</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Morgan Stanley&#8217;s U.S. equity strategy team recommends focusing on defensive businesses that prioritize operational efficiency or have durable pricing power, or both. The team led by the firm&#8217;s Chief Equity Strategist Mike Wilson noted that cyclical and defensive stocks have failed to rebound materially, while lower-beta stocks continued to show very &#8220;resilient performance&#8221; amid the mixed data on both the macro and micro front.
Wilson called for better-than-expected non-farm payroll gains of 185,000 for August and a dip in the jobless rate to 4.2%.
Carson Group Chief Investment Strategist Ryan Detrick shared a premonitory historical trend. Sharing data that showed the second half of September grossly outperforming, he said, &#8220;September isn&#8217;t usually a good month for stocks, but remember it is the second half when the real trouble starts.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes, September isn&#39;t usually a good month for stocks, but remember it is the second half when the real trouble starts. <a href="https://t.co/lyCshvkUmT">pic.twitter.com/lyCshvkUmT</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1830957875541483874?ref_src=twsrc%5Etfw">September 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Fund Strat&#8217;s Tom Lee said investors should be cautious about the next eight weeks, from September until the election day. In an interview with CNBC, he said he sees the weakness as a &#8220;chance to buy,&#8221; and said investors should be ready to buy the dip.
Upcoming Economic Data:
<ul>
<li>The Commerce Department is due to release the trade balance report for July at 8:30 a.m. EDT, with economists calling for a deficit of $79.1 billion compared to a deficit of $73.1 billion in June.</li>
<li>The Bureau of Labor Statistics will release the results of the July Job Openings and Labor Turnover Survey, or JOLTS, at 10 a.m. EDT. The consensus calls for job openings to be at 8.1 million compared to 8.18 million in June.</li>
<li>The Commerce Department is scheduled to release the factory goods orders report for July at 10 a.m. EDT. Economists, on average, expect a 5.5% month-over-month jump in factory goods orders for July compared to a 3.3% drop in June.</li>
<li>The Fed will release the Beige Book report at 2 p.m. EDT, which gives anecdotal evidence of economic conditions in the 12 Federal Reserve districts.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) jumped nearly 17% <a href="https://www.benzinga.com/premarket">in premarket trading </a>on the company&#8217;s quarterly results, while PagerDuty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>) and Zscaler, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) fell over 14% each.</li>
<li>Ciena Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>), DICK&#8217;S Sporting Goods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>), Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>), and Hormel Foods Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) are among the companies reporting <a href="https://www.benzinga.com/earnings">quarterly results ahead of the market open.</a></li>
<li>Those reporting after the close include AeroVironment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>), C3.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>), Casey&#8217;s General Stores, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>), ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) and Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>).</li>
</ul>
Commodities, Bonds And Global Equity Markets
Crude oil futures extended their slide and dropped below the psychological support of $70-a-barrel and gold futures also slipped. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plunged to the $56.5K level. The yield on the 10-year Treasury note edged down 2.6 points to 3.818%.
The Asian markets had another down day on Wednesday, with the Japanese Nikkei 225 average sliding by over 4% on the yen&#8217;s strength. The South Korean and Taiwanese markets, heavily weighted with tech stocks, also pulled back sharply. Traders were reacting to the sell-off seen on Wall Street overnight. On the other hand, the New Zealand and Indonesian markets bucked the downtrend.
European stocks traded lower in early trading. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/08/40667108/magnificent-7-miss-out-2-cybersecurity-stocks-stand-firm-retailers-lag-in-volatile-august-here-are-t">Magnificent 7 Miss Out, 2 Cybersecurity Stocks Stand Firm, Retailers Lag In Volatile August: Here Are The Top S&amp;P 500 Gainers And Losers</a></li>
</ul>
Image generated with Dall-E 3

Previews

Pre-Market Outlook

Movers

Media

AVAV

CHPT

GTLB

No Respite For US Stocks As Futures Sag, VIX Spikes 10%, Bitcoin Slides: Strategist Warns Of Further Pain In September, But Recommends Buying Dip

Dollar Tree, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dltr#NASDAQ">DLTR</a>) is likely to register top-line growth when it reports second-quarter fiscal 2024 results on Sept. 4. The Zacks Consensus Estimate for revenues is pegged at $8.5 billion, indicating an improvement of 2.5% from the prior-year quarter&#39;s figure.
The bottom line of the discount variety stores retailer is expected to have risen year over year. The Zacks Consensus Estimate for fiscal second-quarter earnings is pegged at $1.03 per share, indicating growth of 13.2% from the year-ago period&#39;s figure. The consensus mark has moved down by a penny in the past seven days.
The company has a trailing four-quarter negative earnings surprise of 1.3%, on average. In the last reported quarter, the Chesapeake, VA-based company reported earnings in line with the Zacks Consensus Estimate.
<div class="chart_embed">
<h3>Dollar Tree, Inc. Price and EPS Surprise</h3>
<img alt="Dollar Tree, Inc. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/25/1725285967.png" style="height:263px; width:536px" title="" />
Dollar Tree, Inc. price-eps-surprise | Dollar Tree, Inc. Quote
As investors prepare for Dollar Tree&#39;s fiscal second-quarter earnings, the question emerges regarding earnings beat or miss.
</div>
<h2>Dollar Tree&#39;s Zacks Model Findings</h2>
Our proven model does not conclusively predict an earnings beat for Dollar Tree this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that&#39;s not the case here.
Dollar Tree has a Zacks Rank #4 (Sell) and an Earnings ESP of -1.94%.
<h2>Trends to Watch Before Dollar Tree&#39;s Big Reveal</h2>
Dollar Tree&#39;s second-quarter fiscal 2024 results are expected to reflect continued pressures from soft demand for discretionary items owing to reduced spending trends among low-income consumers. Due to these trends, management expected elevated shrink and unfavorable mix to remain headwinds in the first half of fiscal 2024. Additionally, the company has been facing headwinds related to product cost inflation. These factors are expected to have collectively marred the top and bottom lines in the fiscal second quarter.
On the last reported quarter&#39;s earnings call, management expected net sales for the Family Dollar segment to drop 1-3% year over year for the fiscal second quarter. Additionally, DLTR expects consolidated net sales of $7.3-$7.6 billion, based on low to low-single-digit comps growth for the enterprise. Comps are expected to improve 2-4% for the Dollar Tree banner and remain nearly flat for the Family Dollar banner.
Our model predicts year-over-year enterprise comps growth of 1.9% for the fiscal second quarter, with a 3.6% increase in comps for the Dollar Tree banner and flat Family Dollar comps.
Dollar Tree has also been witnessing higher SG&amp;A expenses for the past few quarters, owing to elevated operating costs, including labor investments to support multi-price rollouts, higher depreciation expenses and costs related to severance and retention of store closures in the Family Dollar segment.
On the last reported quarter&#39;s earnings call, management indicated that incremental transportation and other expenses due to the recent destruction of a distribution center by a tornado in Marietta, OK, are expected to result in high SG&amp;A expenses in the forward quarters. The company incurred losses of $117 million as of May 4, 2024, related to the issue, comprising $70 million for damaged inventory and $47 million for property and equipment. The costs related to the distribution center mishap are likely to have resulted in elevated SG&amp;A expenses in the to-be-reported quarter.
The company expects adjusted earnings per share of $1-$1.10, including about 10 cents of incremental transportation and other costs related to the loss of the Marietta distribution center.
As a percentage of sales, we expect adjusted SG&amp;A expenses to increase 30 basis points year over year to 25.6% in the fiscal second quarter. In dollar terms, SG&amp;A expenses are anticipated to increase 4.1% year over year.
Driven by an 80-bps increase in the gross margin and a higher SG&amp;A rate, our model predicts an adjusted operating margin of 4.4%, indicating a 50-bps expansion from the year-ago quarter.
However, DLTR is expected to have displayed continued progress on its restructuring and expansion initiatives, driven by steady store openings and improvement of distribution centers, which is likely to have partly cushioned revenues. The company has been benefiting from various initiatives like a multi-price point strategy, restructuring and expansion initiatives and efforts to optimize its store portfolio through store openings, renovations, re-banners and closings. These actions have led to consistent sales growth across various segments and gains in market share.
DLTR&#39;s digital and omnichannel capabilities and same-day delivery service with Instacart are expected to have driven traffic trends in the fiscal second quarter.
<h2>DLTR&#39;s Stock Price &amp; Valuation Picture</h2>
From a valuation perspective, Dollar Tree shares present an attractive opportunity, trading at a discount relative to historical and industry benchmarks. With a forward 12-month price-to-earnings ratio of 11.87X, below the five-year median of 18.17X and the Retail-Discount Stores industry&#39;s average of 30.9X, the company&#39;s shares offer compelling value for investors seeking exposure to the sector. Additionally, the stock currently has a Value Score of A, further validating its appeal.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d4/76263.jpg?v=809652692" />
Image Source: Zacks Investment Research
Recent market movements show that Dollar Tree&#39;s shares have lost 40.5% year to date against the industry&#39;s 20.6% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/59/76262.jpg?v=219799177" />
Image Source: Zacks Investment Research
<h2>Stocks With the Favorable Combination in DLTR&#39;s Sector</h2>
Here are some companies, which according to our model,&nbsp; have the right combination of elements to post an earnings beat this season:
DICK&#39;S Sporting Goods (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dks#NYSE">DKS</a>) presently has an Earnings ESP of +3.05% and a Zacks Rank 2. The company is likely to register growth in the top and bottom lines when it reports fiscal second-quarter results. The Zacks Consensus Estimate for DKS&#39; quarterly revenues is pegged at $3.4 billion, which indicates 6.4% growth from the prior-year quarter.
The consensus mark for DKS&#39; quarterly earnings has moved up 1.6% in the past seven days to $3.77 per share. The consensus estimate indicates growth of 33.7% from the year-ago quarter.
Casey&#39;s General Stores (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/casy#NASDAQ">CASY</a>) currently has an Earnings ESP of +0.21% and a Zacks Rank of 3. The company is likely to register top and bottom-line growth when it reports second-quarter fiscal 2024 results. The consensus mark for CASY&#39;s quarterly revenues is pegged at $4.1 billion, which indicates growth of 6.3% from the prior-year quarter.
The Zacks Consensus Estimate for CASY&#39;s earnings has moved up 0.9% to $4.54 per share in the past seven days. The consensus estimate indicates a 0.4% increase from the year-ago quarter&#39;s figure.
Costco Wholesale (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cost#NASDAQ">COST</a>) currently has an Earnings ESP of +0.89% and a Zacks Rank of 3. The company is likely to register top and bottom-line growth when it reports fourth-quarter fiscal 2024 results. The consensus mark for COST&#39;s quarterly revenues is pegged at $80.2 billion, which indicates growth of 1.6% from the prior-year quarter.
The Zacks Consensus Estimate for Costco&#39;s earnings has been unchanged at $5.02 per share in the past 30 days. The consensus estimate indicates growth of 3.3% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2330446/dollar-tree-q2-earnings-coming-up-what-should-investors-focus-on?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2330446">To read this article on Zacks.com click here.</a>

Management

COST

Dollar Tree Q2 Earnings Coming Up: What Should Investors Focus On?

In the last three months, 14 analysts have published ratings on Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>), offering a diverse range of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $412.36, along with a high estimate of $445.00 and a low estimate of $361.00. Observing a 9.58% increase, the current average has risen from the previous average price target of $376.31. 
<img src="https://www.benzinga.com/files/images/story/2024/1725386475_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The standing of Casey's General Stores among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Krisztina Katai</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$444.00</td>
<td>$420.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$435.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Irene Nattel</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$393.00</td>
<td>$393.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$410.00</td>
<td>$410.00</td>
</tr>
<tr>
<td>Michael Montani</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$410.00</td>
<td>$405.00</td>
</tr>
<tr>
<td>Charles Cerankosky</td>
<td>Northcoast Research</td>
<td>Announces</td>
<td>Buy</td>
<td>$410.00</td>
<td>-</td>
</tr>
<tr>
<td>Anthony Bonadio</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$415.00</td>
<td>$340.00</td>
</tr>
<tr>
<td>Kelly Bania</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$400.00</td>
<td>$305.00</td>
</tr>
<tr>
<td>Krisztina Katai</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Buy</td>
<td>$420.00</td>
<td>$375.00</td>
</tr>
<tr>
<td>John Lawrence</td>
<td>Benchmark</td>
<td>Raises</td>
<td>Buy</td>
<td>$410.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Corey Tarlowe</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$445.00</td>
<td>$342.00</td>
</tr>
<tr>
<td>Irene Nattel</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$361.00</td>
<td>$322.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Casey's General Stores. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Casey's General Stores compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Casey's General Stores's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Casey's General Stores's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CASY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Casey's General Stores analyst ratings.</a>
<h2>Discovering Casey's General Stores: A Closer Look</h2>
Casey's serves as the nation's third-largest convenience store chain with its more than 2,600 locations primarily positioned in the Midwest United States. About half of Casey's stores are located in rural towns with populations under 5,000. While fueling stations serve as a key traffic generator, about two thirds of the company's gross profit stems from in-store sales of grocery items, prepared meals, and general merchandise. Casey's owns more than 90% of its stores and operates most of its warehousing and distribution processes internally.
<h3>Casey's General Stores's Economic Impact: An Analysis</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Over the 3 months period, Casey's General Stores showcased positive performance, achieving a revenue growth rate of 8.15% as of 30 April, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Consumer Staples sector.
Net Margin: Casey's General Stores's net margin excels beyond industry benchmarks, reaching 2.42%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 2.92%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 1.39%, the company showcases effective utilization of assets.
Debt Management: Casey's General Stores's debt-to-equity ratio is below the industry average. With a ratio of 0.54, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>Analyst Ratings: What Are They?</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Casey's General Stores: Insights From 14 Analyst Reviews

Casey's General Stores (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) has outperformed the market over the past 10 years by 7.06% on an annualized basis producing an average annual return of 17.88%. Currently, Casey's General Stores has a market capitalization of $13.84 billion. 
Buying $1000 In CASY: If an investor had bought $1000 of CASY stock 10 years ago, it would be worth $5,182.81 today based on a price of $372.96 for CASY at the time of writing.
<h3>Casey's General Stores's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724855415_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 10 Years Ago Would Be Worth $5,200 Today

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Press Releases

Casey's Awards $1 Million to K-12 Schools in its Local Communities

Casey's Announces Fourth Quarter and Fiscal Year Results

Casey's Announces Public Accounting and Governance Leader Maria Castañón Moats to Join its Board of Directors on July 1, 2024

Casey's Announces Agreement to Acquire 198 CEFCO Convenience Stores

Casey's Invites Guests to Round Up During Cash for Classrooms Campaign

Casey's Launches Innovation Summit to Identify Brands With Innovative Food and Beverage Products

Casey's Announces Timing of First Quarter Earnings Release and Conference Call

Casey's Announces the Return of the Guest-Favorite Ultimate Waffle Breakfast Sandwich

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Casey's General Stores

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