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Casey's General Stores (CASY) Gains As Market Dips: What You Should Know

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Casey's General Stores (CASY - Free Report) closed at $191.89 in the latest trading session, marking a +0.48% move from the prior day. This move outpaced the S&P 500's daily loss of 0.11%.

Coming into today, shares of the convenience store chain had gained 1.36% in the past month. In that same time, the Retail-Wholesale sector gained 3.35%, while the S&P 500 gained 4.61%.

Wall Street will be looking for positivity from CASY as it approaches its next earnings report date. In that report, analysts expect CASY to post earnings of $2.78 per share. This would mark a year-over-year decline of 7.33%. Meanwhile, our latest consensus estimate is calling for revenue of $3.15 billion, up 42.05% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $8.68 per share and revenue of $12.02 billion, which would represent changes of +3.58% and +38.05%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for CASY. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.71% higher within the past month. CASY is holding a Zacks Rank of #2 (Buy) right now.

Investors should also note CASY's current valuation metrics, including its Forward P/E ratio of 22.01. For comparison, its industry has an average Forward P/E of 24.45, which means CASY is trading at a discount to the group.

The Retail - Convenience Stores industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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