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Earnings Estimates Moving Higher for Casey's (CASY): Time to Buy?

Zacks Equity Research

Casey's General Stores, Inc. CASY is an operator convenience stores that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CASY’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Casey's could be a solid choice for investors.

Current Quarter Estimates for CASY

In the past 30 days, three estimates have gone higher for Casey's while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.83 a share 30 days ago, to $1.97 cents today, a move of 7.7%.

Current Year Estimates for CASY

Meanwhile, Casey’s current year figures are also looking quite promising, with six estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing/narrowing from $5.44 per share 30 days ago to $5.82 per share today, an increase of 7%.

Caseys General Stores, Inc. Price and Consensus

Caseys General Stores, Inc. Price and Consensus

Caseys General Stores, Inc. price-consensus-chart | Caseys General Stores, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 19.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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