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

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

Casey’s General Stores Stock Down 1.0 %

Shares of CASY stock traded down $4.16 during mid-day trading on Monday, reaching $418.11. 472,465 shares of the company were exchanged, compared to its average volume of 194,616. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The business’s 50 day simple moving average is $399.97 and its 200 day simple moving average is $379.10. The company has a market capitalization of $15.52 billion, a P/E ratio of 30.73 and a beta of 0.80. Casey’s General Stores has a fifty-two week low of $266.56 and a fifty-two week high of $435.60.

Casey’s General Stores Dividend Announcement

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

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos purchased 267 shares of the stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 11.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on CASY. Wells Fargo & Company increased their target price on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $300.00 to $337.00 in a research note on Thursday, September 19th. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research report on Tuesday, September 10th. Melius Research assumed 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 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $408.25.

Casey’s General Stores Company Profile

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.