Casey’s General Stores Inc. Second Quarter Earnings Sneak Peek

Casey’s General Stores, Inc. (NASDAQ:CASY) will unveil its latest earnings on Tuesday, December 6, 2011. Casey’s General Stores and its wholly owned subsidiaries operate convenience stores under the names “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 profit of 97 cents per share, a rise of 19.8% 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 94 cents. Between one and three months ago, the average estimate moved up. It has risen from 96 cents during the last month. For the year, analysts are projecting net income of $3.11 per share, a rise of 17.8% from last year.

Past Earnings Performance: The company fell short of estimates last quarter after topping forecasts the quarter prior. In the first quarter, it reported profit of $1.03 per share against a mean estimate of $1.05. Two quarters ago, it beat expectations by 10 cents with net income of 60 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.85 billion in revenue this quarter, a rise of 37% from the year ago quarter. Analysts are forecasting total revenue of $7.29 billion for the year, a rise of 29.3% from last year’s revenue of $5.64 billion.

Analyst Ratings: four out of seven analysts surveyed (57.1%) have a buy rating on Casey’s General Stores.. This is below the mean analyst rating of 10 competitors, which average 60% buy ratings.

A Look Back: In the first quarter, profit rose 5.6% to $39.4 million ($1.03 a share) from $37.3 million (73 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 37.6% to $1.87 billion from $1.36 billion.

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 27.3%, with the biggest boost coming in the most recent quarter when revenue rose 37.6% from the year earlier quarter.

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 September 6, 2011 to November 30, 2011, the stock price had risen $9.43 (21.5%) from $43.95 to $53.38. The stock price saw one of its best stretches over the last year between March 22, 2011 and April 1, 2011 when shares rose for nine-straight days, rising 6.4% (+$2.33) 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% (-$3.09) over that span. Shares are up $11.41 (+27.2%) year to date.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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