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

Casey's General Stores (NASDAQ:CASY - Get Free Report) released its earnings results on Tuesday. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57, Zacks reports. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.74 billion. During the same period in the prior year, the company earned $2.33 earnings per share. The company's quarterly revenue was up 17.2% on a year-over-year basis.

Casey's General Stores Trading Up 0.4 %

NASDAQ CASY traded up $1.48 on Friday, reaching $386.50. The company had a trading volume of 4,473 shares, compared to its average volume of 267,997. 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 business has a 50 day moving average of $409.76 and a two-hundred day moving average of $399.63. Casey's General Stores has a fifty-two week low of $293.81 and a fifty-two week high of $445.17. The firm has a market cap of $14.35 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 2.40 and a beta of 0.87.

Casey's General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 1st will be issued a $0.50 dividend. The ex-dividend date is Thursday, May 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.52%. Casey's General Stores's payout ratio is 13.94%.

Remove Ads

Insiders Place Their Bets

In other Casey's General Stores news, Director Mike Spanos purchased 500 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $396.76 per share, for a total transaction of $198,380.00. Following the acquisition, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CASY shares. BMO Capital Markets restated a "market perform" rating and set a $450.00 target price (up from $400.00) on shares of Casey's General Stores in a research note on Wednesday, December 18th. Evercore ISI dropped their price target on Casey's General Stores from $460.00 to $450.00 and set an "outperform" rating for the company in a research note on Tuesday. StockNews.com cut Casey's General Stores from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada set a $438.00 price target on Casey's General Stores and gave the company a "sector perform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $423.09.

About Casey's General Stores

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.