Casey’s General Stores (NASDAQ:CASY) Posts Earnings Results, Beats Expectations By $0.57 EPS

Casey’s General Stores (NASDAQ:CASY) issued its earnings results on Tuesday. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.76 by $0.57, Zacks reports. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.74 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS.

Casey’s General Stores Trading Up 6.2 %

Shares of CASY stock opened at $402.07 on Thursday. The stock has a market cap of $14.92 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. Casey’s General Stores has a 1 year low of $290.00 and a 1 year high of $445.17. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The stock has a 50 day simple moving average of $409.76 and a 200 day simple moving average of $399.63.

Casey’s General Stores Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.50%. Casey’s General Stores’s payout ratio is 13.94%.

Insiders Place Their Bets

In related news, Director Mike Spanos purchased 500 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price of $396.76 per share, with a total value of $198,380.00. Following the completion of the purchase, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. This trade represents a 19.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CASY. Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada set a $438.00 price objective on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday. Evercore ISI reduced their target price on shares of Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a report on Tuesday. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $423.09.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.