Casey’s General Stores, Inc. First Quarter Earnings Sneak Peek

Casey’s General Stores, Inc. (NASDAQ:CASY) will unveil its latest earnings on Tuesday, September 6, 2011. Casey’s General Stores, Inc. and its wholly owned subsidiaries operate convenience stores under the name ‘Casey’s General Store’, ‘HandiMart’ and ‘Just Diesel’ in nine Midwestern states, mainly Iowa, Missouri, and Illinois.

Casey’s General Stores, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.04 per share, a rise of 28.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 91 cents. Between one and three months ago, the average estimate moved up, and has risen from $1.01 during the last month. For the year, analysts are projecting profit of $3.10 per share, a rise of 17.4% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the fourth quarter of the last fiscal year, it reported net income of 60 cents per share against a mean estimate of profit of 50 cents per share. In the third quarter of the last fiscal year, it missed forecasts by 12 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.88 billion in revenue this quarter, a rise of 38.2% from the year ago quarter. Analysts are forecasting total revenue of $7.36 billion for the year, a rise of 30.5% from last year’s revenue of $5.64 billion.

Analyst Ratings: Analysts are bullish on Casey’s General Stores as four analysts rate it as a buy, none rate it as a sell and four rate it as a hold. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 21.5%, with the biggest boost coming in the most recent quarter when revenue rose 31.3% from the year earlier quarter.

The increase in profit in the fourth quarter of the last fiscal year breaks a streak of three consecutive quarters of year-over-year profit decreases. In the fourth quarter of the last fiscal year, net income rose 3.8% from the year earlier, while the figure dropped 25.3% in the third quarter of the last fiscal year, 35.4% in the second quarter of the last fiscal year and 15.6% in the first quarter of the last fiscal year.

Competitors to Watch: The Pantry, Inc. (NASDAQ:PTRY), Susser Holdings Corp. (NASDAQ:SUSS), The Kroger Co. (NYSE:KR), Weis Markets, Inc. (NYSE:WMK), AMCON Distributing Co. (AMEX:DIT), Ingles Markets, Inc. (NASDAQ:IMKTA), Winn-Dixie Stores, Inc. (NASDAQ:WINN), Wal-Mart (NYSE:WMT), Target (NYSE:TGT) and Whole Foods Market, Inc. (NASDAQ:WFM).

Stock Price Performance: During June 7, 2011 to August 31, 2011, the stock price had risen $5.05 (12.6%) from $39.95 to $45. The stock price saw one of its best stretches over the last year between November 23, 2010 and December 7, 2010 when shares rose for 10-straight days, rising 5.7% (+$2.21) over that span. It saw one of its worst periods between February 16, 2011 and March 2, 2011 when shares fell for 10-straight days, falling 7.2% (-$3.10) over that span. Shares are up $2.91 (+6.9%) year to date.

(Source: Xignite Financials)

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.