Casey’s General Stores (NASDAQ:CASY) Releases Earnings Results, Beats Expectations By $0.56 EPS

Casey’s General Stores (NASDAQ:CASY) announced its quarterly earnings data on Monday. The company reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.29 by $0.56, Briefing.com reports. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter last year, the business posted $4.24 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year.

Casey’s General Stores Stock Performance

NASDAQ:CASY traded down $4.16 during trading hours on Monday, reaching $418.11. 471,605 shares of the stock were exchanged, compared to its average volume of 194,616. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $399.97 and a 200-day simple moving average of $379.10. Casey’s General Stores has a 52 week low of $266.56 and a 52 week high of $435.60. The stock has a market capitalization of $15.52 billion, a P/E ratio of 30.73 and a beta of 0.80.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CASY. Gordon Haskett started coverage on shares of Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock. StockNews.com upgraded shares of Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Melius Research started coverage on shares of Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

Insider Buying and Selling

In related news, Director Mike Spanos acquired 267 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now owns 2,594 shares in the company, valued at $975,810.92. This represents a 11.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is 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. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.