Favorable Press Coverage Somewhat Unlikely to Affect Casey’s General Stores (CASY) Share Price

Media stories about Casey’s General Stores (NASDAQ:CASY) have been trending positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Casey’s General Stores earned a daily sentiment score of 0.27 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 46.7349252884757 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the media headlines that may have impacted Accern Sentiment’s analysis:

A number of research analysts have issued reports on the stock. Goldman Sachs Group assumed coverage on shares of Casey’s General Stores in a report on Thursday, April 5th. They issued a “neutral” rating and a $106.00 target price for the company. BMO Capital Markets set a $122.00 target price on shares of Casey’s General Stores and gave the company a “hold” rating in a report on Wednesday, March 7th. Northcoast Research reaffirmed a “neutral” rating on shares of Casey’s General Stores in a report on Tuesday, June 5th. Stephens set a $140.00 target price on shares of Casey’s General Stores and gave the company a “buy” rating in a report on Wednesday, March 21st. Finally, Zacks Investment Research raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Casey’s General Stores has a consensus rating of “Hold” and an average target price of $124.11.

Shares of Casey’s General Stores traded down $0.07, reaching $99.11, during mid-day trading on Thursday, according to MarketBeat. 439,681 shares of the company’s stock were exchanged, compared to its average volume of 513,639. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 0.48. Casey’s General Stores has a 52-week low of $90.42 and a 52-week high of $128.51. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.63 and a beta of 0.60.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 12th. The company reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.15). Casey’s General Stores had a return on equity of 12.70% and a net margin of 4.03%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the business earned $0.76 earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. equities analysts expect that Casey’s General Stores will post 3.88 earnings per share for the current fiscal year.

Casey’s General Stores announced that its Board of Directors has initiated a share buyback program on Wednesday, March 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In related news, VP William J. Walljasper sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $108.85, for a total transaction of $108,850.00. Following the sale, the vice president now owns 21,452 shares in the company, valued at $2,335,050.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

Insider Buying and Selling by Quarter for Casey`s General Stores (NASDAQ:CASY)

Receive News & Ratings for Casey's General Stores Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casey's General Stores and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Foxconn Launches Investigation After Reports Of Harsh Working Conditions At Its Factory Foxconn has announced that it has launched investigations into allegations of harsh working conditions at its factory. The company made the announcement after China Labor Watch, which is based in the New York, published a report that indicated Amazon’s workers were being subjected to many hours of work, inadequate training, low wages as well as over dependence on temporary workers. Undercover investigation Before compiling the report, an investigator from China Labor Watch went underground and acted as a worker in the factory. He then interviewed 20 workers, as well as took time to observe the conditions. During the period of investigation, the undercover investigator secured a position in the factory to clean Echo Dot speakers using a toothbrush soaked in rubbing alcohol to remove dust.  In its investigation, China Labor Watch said around 40% of the employees at the factory were on temporary basis. This is far beyond the 10% that is legally allowed under the Chinese law. Additionally, the investigation also found out that dispatch employees were paid at the same rate for both regular and overtime hours.  According to the investigation, the company was paying dispatch workers $2.26 per hour. Additionally, workers were working over 100 hours in over time every month during peak season. This is way beyond the 36 hours of overtime allowed under the law. Additionally, some workers worked for 14 consecutive days.   Amazon’s audit  In its response, Amazon said it carried out an audit of the factory and found that dispatch workers and overtime are matters of great concern. Amazon in a statement, said following the revelation, it requested Foxconn to put in place a corrective plan. Amazon said it is currently monitoring the response from Foxconn as well as the compliance with its Supplier Code of Conduct. Amazon expressed its commitment to ensuring that the matter is fully resolved.  Echo Speakers Amazon, which is the largest online retailer in the world, sells a variety of devices. The company uses tablets and kindles to sell more digital books.   Foxconn, which is based in Taiwan is the largest manufacturer of contract electronics in the world and has a headcount of over a million people. The company, which makes Apple iPhones made headlines following as series of suicides at its plant. The suicides were linked to poor working conditions at the plant to which the company responded with a promise to improve the working conditions.
Foxconn Launches Investigation After Reports Of Harsh Working Conditions At Its Factory Foxconn has announced that it has launched investigations into allegations of harsh working conditions at its factory. The company made the announcement after China Labor Watch, which is based in the New York, published a report that indicated Amazon’s workers were being subjected to many hours of work, inadequate training, low wages as well as over dependence on temporary workers. Undercover investigation Before compiling the report, an investigator from China Labor Watch went underground and acted as a worker in the factory. He then interviewed 20 workers, as well as took time to observe the conditions. During the period of investigation, the undercover investigator secured a position in the factory to clean Echo Dot speakers using a toothbrush soaked in rubbing alcohol to remove dust. In its investigation, China Labor Watch said around 40% of the employees at the factory were on temporary basis. This is far beyond the 10% that is legally allowed under the Chinese law. Additionally, the investigation also found out that dispatch employees were paid at the same rate for both regular and overtime hours. According to the investigation, the company was paying dispatch workers $2.26 per hour. Additionally, workers were working over 100 hours in over time every month during peak season. This is way beyond the 36 hours of overtime allowed under the law. Additionally, some workers worked for 14 consecutive days. Amazon’s audit In its response, Amazon said it carried out an audit of the factory and found that dispatch workers and overtime are matters of great concern. Amazon in a statement, said following the revelation, it requested Foxconn to put in place a corrective plan. Amazon said it is currently monitoring the response from Foxconn as well as the compliance with its Supplier Code of Conduct. Amazon expressed its commitment to ensuring that the matter is fully resolved. Echo Speakers Amazon, which is the largest online retailer in the world, sells a variety of devices. The company uses tablets and kindles to sell more digital books. Foxconn, which is based in Taiwan is the largest manufacturer of contract electronics in the world and has a headcount of over a million people. The company, which makes Apple iPhones made headlines following as series of suicides at its plant. The suicides were linked to poor working conditions at the plant to which the company responded with a promise to improve the working conditions.

Leave a Reply