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

Casey’s General Stores (NASDAQ:CASY) posted its quarterly earnings data on Tuesday. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.57, Zacks reports. The firm had revenue of $3.90 billion for 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 business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 EPS.

Casey’s General Stores Trading Up 6.2 %

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

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.50%. The ex-dividend date is Thursday, May 1st. Casey’s General Stores’s payout ratio is 13.94%.

Insider Buying and Selling

In other news, Director Mike Spanos purchased 500 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average price of $396.76 per share, for a total transaction 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. The trade was a 19.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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