Casey’s General Stores Inc. – Growth And Income – Zacks Rank Buy
Source: http://www.zacks.com/commentary/11057/Casey%27s+General+Stores+Inc.+-+Growth+And+Income+-+Zacks+Rank+BuyPosted on Monday, June 1st, 2009 | In Market Commentary, Stocks to Watch
Companies highlighted in this weekly wrap include Casey’s General Stores Inc. (CASY), Altera Corp. (ALTR), Cubic Corporation (CUB) and Target Corporation (TGT).
Casey’s General Stores Inc. (CASY) continues to perform well after recently spiking on a strong third quarter. Analysts remain bullish on earnings, raising the fiscal full-year estimate by a penny since we last featured CASY as a Growth and Income pick in mid-May. The company is scheduled to report fourth-quarter and full-year results in mid-June.
Bullish Forecasts
Analysts’ earnings estimates for the year ended April 2009 are at $1.75 per share, above last month’s $1.74 and the 3 months-ago level of $1.55. The most accurate projection is higher at $1.76.
For the following year, analysts are calling for earnings of $1.80 per share, an increase from the 2 months-ago level of $1.74 and the 3 month-ago level of $1.60. The most accurate forecast is more bullish at $1.82.
Casey’s General Stores will announce fourth-quarter and full-year results in mid-June.
Favorable Comparisons
CASY’s return on equity (ROE) of 13% is above the industry average of 11%. The company’s dividend yield of 1.2% stands out as most of CASY’s industry peers pay no income. Its net profit margin of 2% is higher than the industry’s average of 0.7%.
Read our May 14, 2009 commentary on CASY.
Last Week’s Growth and Income Zacks Rank Buy Stocks
Altera Corp. (ALTR) just saw a nice share price spike thanks to an analyst, who raised earnings estimates based on the prospect that Altera will hike its second-quarter outlook on strong demand from China. Read the full analysis in ALTR.
Cubic Corporation (CUB) saw fiscal second-quarter earnings of 53 cents per share, topping the year-prior 36 cents and exceeding analysts’ estimates of 43 cents. Second-quarter sales of $242.8 million came in above last year’s $210.3 million. Read the full analysis on CUB.
Target Corporation (TGT) recently announced first-quarter earnings of 69 cents per share, surpassing the consensus estimate by 15%. Sales of $14.4 billion came in above last year’s $14.3 billion. Read the full analysis on TGT.
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 About Alex Kolb (http://www.zacks.com/)
Alex Kolb is an Editor at Zacks Investment Research. |
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