Casey's General Stores (CASY) closed the most recent trading day at $133.80, moving -0.36% from the previous trading session. This move lagged the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.4%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the convenience store chain had gained 0.67% over the past month. This has lagged the Retail-Wholesale sector's gain of 2.56% and the S&P 500's gain of 4.48% in that time.
CASY will be looking to display strength as it nears its next earnings release. On that day, CASY is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 87.5%. Meanwhile, our latest consensus estimate is calling for revenue of $2.20 billion, up 7.29% from the prior-year quarter.
CASY's full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $9.61 billion. These results would represent year-over-year changes of +32.55% and +14.54%, respectively.
Investors should also note any recent changes to analyst estimates for CASY. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.54% higher. CASY is currently a Zacks Rank #1 (Strong Buy).
Investors should also note CASY's current valuation metrics, including its Forward P/E ratio of 26.61. This valuation marks a discount compared to its industry's average Forward P/E of 30.41.
It is also worth noting that CASY currently has a PEG ratio of 2.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Retail - Convenience Stores stocks are, on average, holding a PEG ratio of 2.99 based on yesterday's closing prices.
The Retail - Convenience Stores industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 3, putting it in the top 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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