Casey’s General Q4 Earnings Beat Expectations; Street Remains Cautiously Optimistic

Casey’s General (CASY) has reported better-than-expected quarterly earnings and revenue in the fourth quarter of Fiscal 2021. Casey’s General is a chain of convenience stores in the Midwestern and Southern United States.

Revenues of $2.38 billion surpassed the Street’s estimates of $2.22 billion and jumped 31.2% from the year-ago period.

Earnings came in at $1.12 per share, which outpaced consensus estimates of $0.88 per share. However, earnings were down 32.9% year-over-year. Same-store sales were up 12.8% year-over-year.

Casey’s General CEO Darren Rebelez said, “We have great momentum behind our digital engagement efforts, our private brand products have resonated with our guests, our prepared foods business is regaining traction, and we are in the process of welcoming two large acquisitions to the family. We are now poised to emerge from the pandemic.” (See Casey’s General stock analysis on TipRanks)

Following the fiscal Q4 earnings release, Jefferies analyst Matthew Fishbein maintained a Buy rating and a price target of $239 (11.3% upside potential).

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 6 Buys, 2 Holds, and 1 Sell. Casey’s average analyst price target of $230.13 implies 7.2% upside potential from current levels. Shares have increased 33.1% over the past year.

TipRanks data shows that financial blogger opinions are 50% Neutral on CASY, compared to the sector average of 70%.

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