In its upcoming report, Casey's General Stores (CASY) is predicted by Wall Street analysts to post quarterly earnings of $3.01 per share, reflecting an increase of 29.2% compared to the same period last year. Revenues are forecasted to be $4.11 billion, representing a year-over-year increase of 5.4%.
Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Casey's metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Net Sales- Fuel' should come in at $2.42 billion. The estimate indicates a change of +2.4% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Other' at $131.21 million. The estimate indicates a change of -3.8% from the prior-year quarter.
Analysts' assessment points toward 'Net Sales- Prepared Food & Dispensed Beverage' reaching $428.72 million. The estimate suggests a change of +8% year over year.
Analysts expect 'Net Sales- Grocery & General Merchandise' to come in at $1.07 billion. The estimate suggests a change of +7% year over year.
The combined assessment of analysts suggests that 'Number of Stores (EOP)' will likely reach 2,952 . Compared to the present estimate, the company reported 2,893 in the same quarter last year.
Based on the collective assessment of analysts, 'Same-store sales - Grocery & General Merchandise - YoY change' should arrive at 3.2%. Compared to the current estimate, the company reported 3.3% in the same quarter of the previous year.
It is projected by analysts that the 'Number of Fuel gallons sold' will reach 845.33 million. Compared to the present estimate, the company reported 829.76 million in the same quarter last year.
Analysts predict that the 'Same-store sales - Prepared Food & Dispensed Beverage - YoY change' will reach 4.1%. The estimate compares to the year-ago value of 4.7%.
The consensus estimate for 'Gross Profit- Grocery & General Merchandise' stands at $368.89 million. Compared to the current estimate, the company reported $343.54 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Gross Profit- Prepared Food & Dispensed Beverage' of $248.22 million. The estimate is in contrast to the year-ago figure of $229.54 million.
View all Key Company Metrics for Casey's here>>>
Over the past month, shares of Casey's have returned +5.8% versus the Zacks S&P 500 composite's -1.3% change. Currently, CASY carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Casey's General Stores, Inc. (CASY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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