Casey's General Stores (CASY) Boasts Earnings & Price Momentum: Should You Buy?
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to Casey's General Stores (CASY)
Founded in 1959 and based in Ankeny, IA, Casey's General Stores, Inc. operates convenience stores under the Casey's and Casey's General Store names in 16 Midwestern states, mainly Iowa, Missouri and Illinois. The company also operates two stores under the name "Tobacco City", selling primarily tobacco and nicotine products, one liquor store, and one grocery store.
CASY was added to the Zacks Focus List on August 20, 2019 at $171.98 per share. Since then, shares have increased 28.47% to $220.95.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.50 to $10.52. CASY also boasts an average earnings surprise of 7.2%.
Moreover, analysts are expecting Casey's General Stores' earnings to grow 15.6% for the current fiscal year.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like CASY, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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Casey's General Stores, Inc. (CASY) : Free Stock Analysis Report
