Analysts have a consensus target price of $ 131.30 in the 12-month period. The price objective is 15.15% higher than the recent closing price of $ 114.03. The 52-week price range is $ 80.44 – 129.29 and the company has a market capitalization of $ 4.45B. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 3 has assigned a hold rating, 2 says it’s a buy, and 3 have assigned a strong buy rating to the company.
Casey’s General Stores Inc (CASY) on March 7, 2016 reported diluted earnings per share of $0.97 for the third quarter of fiscal 2016 ended January 31, 2016, compared to $1.01 per share for the same quarter a year ago. Year to date, diluted earnings per share were $4.54 versus $3.57 a year ago. “Total inside gross profit was up over 13% in the third quarter, driven primarily by improved margin performance in our prepared food category,” stated Chairman and CEO Robert J. Myers. “Our fuel margin per gallon was above our annual goal but still below prior year’s strong results, which impacted diluted earnings per share by approximately 30 cents compared to prior year’s third quarter.”
Fuel – The Company’s annual goal for fiscal 2016 is to increase same-store gallons sold 2% with an average margin of 16.7 cents per gallon. For the third quarter, same-store gallons sold were up 1.6% with an average margin of 18.1 cents per gallon. The Company sold 15.2 million renewable fuel credits for $9.2 million during the third quarter. “Fuel margins finished above goal for the third quarter due to elevated RIN values as well as a decline in wholesale fuel costs towards the end of the quarter,” said Myers. “Same-store gallons sold dipped slightly below our goal in the third quarter; however year-to-date same store gallons are up 2.7%.” Total gallons sold were up 7.1% with an average margin of 20.1 cents per gallon year to date.
Grocery and Other Merchandise – Casey’s annual goal for fiscal 2016 is to increase same-store sales 6.2% with an average margin of 32.1%. For the third quarter, same-store sales were up 7.1% with an average margin of 31.2%. “Cigarette sales continue to benefit from lower retail fuel prices, and sales in the entire category performed well in the third quarter,” said Myers. “Margin has been slightly impacted by the increased contribution of cigarettes, and performed in line with prior year’s third quarter.” For the year, total sales were up 10.2% with an average margin of 31.8%. Year to date, same-store sales were up 7.1%.
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