Casey's(CASY, $229.96) beats Q2 earnings expectations, despite revenue miss
Casey's General Stores posted adjusted earnings of $3.67 per share for the quarter ended October, which exceeded the Zacks Consensus Estimate of $3.27 per share (according to Zacks Equity Research). Earnings were $2.59 per share a year ago.
Revenues of $3.98 billion for the quarter missed the Zacks Consensus Estimate by 4.14%. This compares to year-ago revenues of $3.26 billion. Inside Same-store sales climbed +7.9% year-over-year and 14.4% on a two-year stack basis.
The company updated its fiscal 2023 outlook, with current expectation of same-store inside sales to be approximately 5% to 7%. Total operating expense rise outlook is near the low end of the annual range which was approximately 9% to 10%. The tax rate is now expected to be between 24% and 25% for the year.
CASY's Stochastic Oscillator is staying in oversold zone for 1 day
Be on the lookout for a price bounce soon.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on June 02, 2023. You may want to consider a long position or call options on CASY as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The 50-day moving average for CASY moved above the 200-day moving average on May 16, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CASY advanced for three days, in of 342 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 315 cases where CASY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for CASY moved out of overbought territory on May 05, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 43 similar instances where the indicator moved out of overbought territory. In of the 43 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for CASY turned negative on May 11, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CASY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CASY broke above its upper Bollinger Band on May 01, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 76, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. CASY’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.274) is normal, around the industry mean (15.528). P/E Ratio (19.048) is within average values for comparable stocks, (25.023). Projected Growth (PEG Ratio) (1.642) is also within normal values, averaging (2.491). Dividend Yield (0.007) settles around the average of (0.038) among similar stocks. P/S Ratio (0.564) is also within normal values, averaging (69.830).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
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Industry description
Market Cap
High and low price notable news
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
an operator of convenience stores and gasoline stations
Industry SpecialtyStores
CASY and
Correlation & Price change
A.I.dvisor indicates that over the last year, CASY has been loosely correlated with MUSA. These tickers have moved in lockstep 58% of the time. This A.I.-generated data suggests there is some statistical probability that if CASY jumps, then MUSA could also see price increases.
| Ticker / NAME | Correlation To CASY | 1D Price Change % | ||
|---|---|---|---|---|
| CASY | 100% | +1.73% | ||
| MUSA - CASY | 58% Loosely correlated | +2.98% | ||
| ORLY - CASY | 46% Loosely correlated | +0.01% | ||
| GPC - CASY | 46% Loosely correlated | +2.77% | ||
| AZO - CASY | 42% Loosely correlated | +0.32% | ||
| HD - CASY | 39% Loosely correlated | +2.62% | ||
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