Casey’s General Stores, Inc., together with its subsidiaries, operates convenience stores under the Casey’s and Casey’s General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. In addition, its stores offer motor fuel for sale on a self-service basis; and gasoline and diesel fuel, as well as car wash services. Casey’s General Stores, Inc. was founded in 1959 and is headquartered in Ankeny, Iowa.
“We maintain our view that imetelstat is likely to be approved in this setting, where we estimate $1.5 billion in unadjusted peak sales,” Jenkins wrote in a Monday note. “We see the recent pullback in shares as presenting a buying opportunity for https://1investing.in/ the stock.” Elsewhere, U.S. crude prices touched the highest level since November of last year as OPEC on Tuesday kept to a robust demand growth forecast this year and next. West Texas Intermediate crude oil futures settled at $88.84 a barrel.
- The Nasdaq Composite hit its lows of the session, falling more than 1%.
- The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%.
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- Both companies also boast billions of users strong pipelines of AI-related talent.
- 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…
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Data may be intentionally delayed pursuant to supplier requirements. Over the past year, the stock has underperformed the industry. Shares have lost 34.7% during this period compared with the 8.9% decline of the industry. The third part of Insulet’s four-pillar strategy is to grow its global addressable market. In this regard, Insulet expanded its efforts with the rollout of Omnipod DASH across international markets. It entered the Asia Pacific region through Australia and also expanded into Turkey.
Casey’s Announces Timing of First Quarter Earnings Release and Conference Call
For fiscal 2024, Casey is guiding to fuel margins in the mid-30 cents, but recent results suggest they may stay elevated above that level. In fact, fuel margins have stayed above 34.6 cents for a record 9 straight quarters for Casey’s, significantly contributing to the company’s strong profitability (Figure 12). This leads to Casey’s having a higher share of gross profit dollars from inside sales, and better gross margins than competitors. For Casey’s, approximately 2/3 of gross profit dollars are generated from inside sales (Figure 3). Meanwhile, retailer Casey’s General Stores was up more than 3%.
Furthermore, the decline of tobacco sales and limited inside sale categories have pressured the profitability of mom and pop convenience stores, forcing them to raise fuel prices to compensate (Figure 11). This has indirectly benefited large chains like Casey’s that have large format stores with attractive inside sales margins. Casey’s General Stores Inc owns and operates over 2,500 convenience stores in multiple Midwestern states of the U.S. The stores provide self-service gasoline, grocery items, and processed foods such as pizza, donuts, and sandwiches. Casey’s operates its own distribution centres, delivering its in-store products and fuel supplies.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%. HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%. Oracle dropped more than 9% after the bell following a mixed report for the fiscal first quarter.
Earnings and Valuation
The Financial Select Sector SPDR Fund ticked up 0.8%, while the Industrial Select Sector SPDR Fund traded near the flatline. Analyst Corinne Jenkins upgraded Geron to buy from neutral and maintained her current price target. She highlighted FDA acceptance of Geron’s new drug application for imetelstat, a treatment for individuals with transfusion-dependent anemia in lower-risk myelodysplastic syndromes, or MDS. In the next several months, Kostin expects stocks to trade sideways with perhaps some slight near-term weakness.
And according to Bank of America, the company is facing another busy catalyst path the next 18 months. The software stock dropped 11.92% in midday trading Tuesday in its worst day since Mar. 2002 when Oracle shed 14.51%. Truist analyst Jordan Levy turned less bullish on Enphase Energy and slashed his expectation for shares amid concerns over a recovery in the U.S. residential causes of over capitalisation market. “GM looks most at risk in the event of a prolonged strike given low inventories (378k units and 17 days below August 2019 levels) and continuing production challenges,” analyst Philippe Houchois wrote in a Monday note. “We assume 28-30% fixed costs, yielding a weekly shortfall of c.$500m or 3-4% FY23E adjusted group EBIT [earnings before interest and taxes].”
News and Social Media Coverage
Some better-ranked stocks in the broader medical space are Haemonetics (HAE Quick QuoteHAE – Free Report) , Quanterix (QTRX Quick QuoteQTRX – Free Report) and SiBone (SIBN Quick QuoteSIBN – Free Report) . Reuters, citing two sources, said creditors approved extending six out of the eight bonds, while the other two bonds will see voting delayed. TSMC is reported to be one of the manufacturers for Qualcomm’s chips, as well as the manufacturer of Apple’s chips that power its devices.
Starting today through September 5, Casey’s guests can round up th… In 2023, CASY’s revenue was $15.09 billion, an increase of 16.54% compared to the previous year’s $12.95 billion. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s.
His 12-month forecast has the S&P 500 climbing to 4,700, which he called a “modest” expectation in this environment. Instead, El-Erian believes it’s likely that both core and headline inflation put up a harder fight than expected on the way down. With that in mind, investors will be forced to grow comfortable with inflation persisting above its traditional 2% target, he said.
Casey’s General Stores Inc. shares slipped in the extended session Wednesday after the convenience store chain’s revenue topped Wall Street estimates but its profit fell short. SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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However, what many readers may not know is that Casey’s is also the nation’s 4th largest liquor store and 5th largest pizza chain. “In turn, that should drive multiple appreciation from current levels.” The stock has skyrocketed in recent months, gaining more than 63% so far this year. Shares are trading 2.9% lower on Tuesday, ahead of Adobe’s earnings due Thursday after market close.
- The consensus among Wall Street equities research analysts is that investors should “moderate buy” CASY shares.
- Furthermore, the decline of tobacco sales and limited inside sale categories have pressured the profitability of mom and pop convenience stores, forcing them to raise fuel prices to compensate (Figure 11).
- This has indirectly benefited large chains like Casey’s that have large format stores with attractive inside sales margins.
- Analysts like Casey’s General Stores more than other Retail/Wholesale companies.
Casey’s (CASY) Q1 Earnings Beat Estimates, Revenues Down Y/Y
The retailer blew past earnings expectations, posting $4.52 per share on a consensus estimate of $3.36 from analysts polled by FactSet. That took attention away from revenue, with the company reporting $3.87 billion while Wall Street expected $3.9 billion. “We remain confident that generative AI can help Adobe grow net new ARR over the next several years, which should support durable mid- to low-teens revenue growth,” Bachman said in a Tuesday note. “We believe that Adobe’s strategy will include price increases of 10% to 15%, though lower at the consumer level, and adding new users in all categories.” Shares of convenience-store chain Casey’s General Stores Inc. CASY, -1.61% fell 4.8% after hours on Tuesday after the company reported fiscal fourth-quarter results that missed expectations.
Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 for 2023 and from $3.96 to $4.07 for 2024 in the past 30 days. You can see the complete list of today’s Zacks #1 Rank stocks here. The sources said Arm is also discussing the possibility of raising the price range and seeking a valuation of more than $54.5 billion, in light of strong investor interest. Westrock shares roared higher early Tuesday on news that the paper and packaging company is moving ahead on its merger with Europe’s Smurfit Kappa. Novo Nordisk shares have had a blockbuster year thanks to the rise of diabetes and obesity treatments Ozempic and Wegovy.