Casey's General Stores: Fuel Sales Are Now The Sideshow
Tristan R. Brown
Tristan R. Brown
Casey's Growth And Risks
Mon, Jul. 25, 7:59 AM| Mon, Jul. 25, 7:59 AM
Wed, Jun. 29, 12:46 PM
- Casey's General Stores (NASDAQ:CASY) is up 3.1% after a move up to Goldman Sachs' Conviction Buy list.
- The firm upgraded shares to Buy from Neutral and hiked its price target to $145, from $123 -- implying 13% upside from today's pricing.
- Rising biofuel prices will lift the stock in a "fragmented c-store industry with low borrowing costs and limited financial leverage," Stephen Grambling writes.
- While biofuel will give a tailwind to the convenience store chain's fuel margin, lower food costs combined with higher prices should boost prepared gross margin, he says.
- Even so, Casey's is trading at a 8.5 times fiscal 2017 enterprise value/EBITDA -- a discount to peers in convenience stores (nine times) and defensive retail (11 times), he says.
Tue, Jun. 7, 10:27 AM
- Casey's General Stores (CASY -4.6%) is lower after FQ4 profit missed expectations.
- The top line was strong during the quarter as same-store sales growth was +4.6%, driven higher by a +7.4% grocery comp.
- As expected, fuel margin fell 90 bps Y/Y and 30 bps Q/Q to $0.178.
- Jefferies maintained a Hold rating on Casey's following the earnings release."CASY reported in-linish 4Q16 EPS; however, earnings quality was questionable as EBIT missed our ests. by $3M (cons. by $4M) and a lower tax rate provided a nickel to EPS vs. our ests," wrote analyst Christopher Mandeville.
- Previously: Caseys General Stores misses by $0.03, beats on revenue (June 6)
Tue, May 24, 2:34 PM
- Retail stocks continue to do a reset ever since Wal-Mart reported strong earnings at odds with some of its peers.
- A category that performed well for Wal-Mart in Q1 was grocery in what some investors are seeing as more of a read on consumer spending habits than a market share grab from the retail giant.
- Grocery store stocks and a few convenience store names are notably out in front of broad market averages today. The list of gainers includes Village Super Market (VLGEA +6.1%), Weis Markets (WMK +2.5%), Ingles Markets (IMKTA +3.3%), Supervalu (SVU +4.3%), Kroger (KR +1.8%), Casey's General Stores (CASY +2.9%), and CST Brands (CST +2.1%),
Thu, May 19, 9:56 AM
- Grocery store stocks are higher after Wal-Mart reports solid Q1 earnings.
- The read from Bentonville is that U.S. consumers are spending on food even if they give apparel a pass.
- Gainers include Kroger (KR +1.5%), Sprouts Farmers Market (SFM +1.3%), Casey's General Stores (CASY +1.8%), Supervalu (SVU +1.1%), and Whole Foods Market (WFM +1.3%).
Wed, Mar. 9, 9:29 AM
Mon, Feb. 1, 10:46 AM
- Strong volume numbers out of Sysco this morning aren't going unnoticed by grocery store investors.
- With a large percentage of the market showing losses, Whole Foods (WFM +1.9%), The Fresh Market (TFM +0.1%), and Kroger (KR +1.8%) are all higher. Related food seller Casey's General Stores (CASY +0.9%) is also in positive territory.
- Previously: 52-week high for Sysco after earnings shine (Feb. 1)
Jun. 23, 2015, 6:07 PM
- NiSource spinoff Columbia Pipeline Group (CPGX) is taking Allegeheny Technologies' (NYSE:ATI) spot in the S&P 500. Allegheny will join the S&P MidCap 400.
- Also joining the S&P 400: Casey's General Stores (NASDAQ:CASY), Graham Holdings spinoff Cable One, DuPont spinoff Chemours, and the post-spinoff Energizer (NYSE:ENR).
- Getting dropped to the S&P SmallCap 600 from the 400: Unit Corp. (NYSE:UNT), Harsco (NYSE:HSC), and Semtech (NASDAQ:SMTC).
- Also joining the S&P 600: Nektar (NASDAQ:NKTR), Masco spinoff TopBuild, and the new/post-spinoff Gannett (NYSE:GCI). Gannett's broadcast/digital spinoff Tegna (Pending:TGNA) will have old Gannett's spot in the S&P 500.
- Getting dropped from the S&P 600, and not moving up: Aeropostale (NYSE:ARO), Paragon Offshore (NYSE:PGN), PetroQuest (NYSE:PQ), Quiksilver (NYSE:ZQK), and FXCM.
- Leaving the S&P 400, and not moving elsewhere: Peabody (NYSE:BTU) and AOL (acquired by Verizon).
- ATI -1% AH. UNT -0.7%. ARO -1.1%. PQ -1.9%. BTU -1.1%. NKTR +5.2%.
Jun. 8, 2015, 5:37 PM
Mar. 10, 2015, 10:20 AM
- Casey's General Stores (CASY -7.4%) trades lower after FQ3 revenue missed the expectation of analysts.
- The sharp drop in gas prices cut into sales despite higher traffic at pumps and inside the company's stores.
- Shares have recovered somewhat from a wild after-hours session which saw Casey's down almost 11% at one point.
- Previously: Casey's General Stores beats by $0.19, misses on revenue (Mar. 09 2015)
- Previously: Food sales and gas margins up at Casey's in FQ3 (Mar. 09 2015)
Mar. 9, 2015, 5:55 PM
- Casey's General Stores (NASDAQ:CASY) reports it recorded a record fuel margin in FQ3.
- Same-store gallons were up 2.2% during the period with an average margin of $0.22 per gallon.
- Merchandise and grocery comp sales rose 7.7% Y/Y off of favorable consumer trends and a lift from increased cooler space.
- Prepared food and fountain same-store sales +9.5% with an average margin of 58.7%.
- Previously: Caseys General Stores beats by $0.19, misses on revenue
- CASY -0.3% after hours after running up a 3.72% gain during the daily session ahead of the earnings report.
Dec. 10, 2014, 10:22 AM
- The S&P 500 Retail ETF (NYSEARCA:XRT) is up 0.3% today despite the negative action in the broader market.
- A forecast for sustained lower oil prices is the major reason for the upswing.
- Top 20 XRT holdings showing gains: Limited Brands (LB +0.6%), Whole Foods Markets (WFM +0.4%), Casey's General Stores (CASY +0.3%), Ross Stores (ROST +0.7%), Kroger (KR +0.9%), Advance Auto Parts (AAP +0.4%), Target (TGT +0.4%), Zumiez (ZUMZ +0.3%), CST Brands (CST +1.3%).
Nov. 25, 2014, 12:45 PM
Sep. 10, 2014, 9:43 AM
Jun. 9, 2014, 5:51 PM
Sep. 9, 2013, 4:25 PM
- Casey's General (CASY): FQ1 EPS of $1.43 beats by $0.17.
- Revenue of $2.11B beats by $0.01B. Shares -1.6% AH. (PR)
Casey's General Stores, Inc. engages in operating convenience stores and gasoline stations. It provides food, beverages, dairy and bakery products, such as beer, fountain drinks, donuts, cookies, brownies, Danish rolls, ham and cheese sandwiches, pork and chicken fritters, sausage sandwiches,... More
Industry: Grocery Stores
Country: United States
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