Why Casey's General Stores Shares Are Surging Premarket Wednesday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 12 2024
0mins
Source: Benzinga
- Financial Performance: Casey’s General Stores, Inc. reported higher sales and earnings for the fourth quarter and FY24, with sales exceeding expectations and EPS beating consensus.
- Operational Highlights: Inside same-store sales rose significantly over a two-year period, driven by strong performance in various categories like prepared food, dispensed beverages, and grocery items.
- Liquidity and Share Repurchase: The company had around $1.1 billion in available liquidity as of April-end, repurchased shares worth $15 million during the quarter, and increased quarterly dividend by 16%.
- FY25 Outlook: Casey’s General Stores expects EBITDA to increase by at least 8%, projects a 3% to 5% rise in inside same-store sales, and aims to add at least 100 new stores through various means.
- Leadership and Investments: The company welcomed Maria Castañón Moats to its Board of Directors, announced strategic plans for store expansion, and highlighted achievements under its three-year strategic plan.
Analyst Views on PSL
Wall Street analysts forecast PSL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PSL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 108.951
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
