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

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

Casey’s General Stores Trading Down 1.0 %

Casey’s General Stores stock opened at $418.11 on Tuesday. Casey’s General Stores has a one year low of $266.56 and a one year high of $435.60. The company’s fifty day moving average price is $400.82 and its two-hundred day moving average price is $379.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 30.43 and a beta of 0.80.

Casey’s General Stores Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 17th. Investors of record on Monday, February 3rd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.48%. Casey’s General Stores’s dividend payout ratio is presently 14.56%.

Insiders Place Their Bets

In related news, Director Mike Spanos purchased 267 shares of the stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the acquisition, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

CASY has been the subject of a number of research reports. Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 5th. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday, September 10th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Finally, Melius Research started coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $408.25.

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.