Jefferies Remains Sidelined on Casey's General Stores (CASY) Following Mixed 4Q
Jefferies maintained a Hold rating and $102.00 price target on Casey's General Stores (NASDAQ: CASY) following the company's 4Q earnings report. EBIT came in light at $80M compared to the consensus of $84M. EPS were reported at $1.19 slightly below $1.22 consensus.
Analyst Christopher Mandeville commented, "CASY reported in-linish 4Q16 EPS; however, earnings quality was questionable as EBIT missed our ests. by $3M (cons. by $4M) and a lower tax rate provided a nickel to EPS vs. our ests. More importantly, F2017 guidance provided a mixed bag in our view. Given that shares trade near peak multiple of 10x EV/EBITDA, and a lack of upside surprise vs. investor expectations, we anticipate share weakness upon mkt. open."
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Shares of Casey's General Stores closed at $123.77 yesterday.