Casey’s General Stores, Inc. (NASDAQ:CASY) to Issue Quarterly Dividend of $0.34

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Tuesday, June 8th, Zacks reports. Shareholders of record on Monday, August 2nd will be given a dividend of 0.34 per share on Monday, August 16th. This represents a $1.36 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, July 30th.

Casey’s General Stores has increased its dividend by 28.0% over the last three years and has increased its dividend every year for the last 1 years. Casey’s General Stores has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Casey’s General Stores to earn $8.04 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 16.9%.

CASY opened at $204.90 on Thursday. The firm’s fifty day moving average is $220.16. Casey’s General Stores has a 52 week low of $142.34 and a 52 week high of $229.18. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 22.89 and a beta of 0.88. The company has a current ratio of 1.28, a quick ratio of 0.81 and a debt-to-equity ratio of 0.72.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, June 7th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.24. Casey’s General Stores had a net margin of 4.09% and a return on equity of 18.65%. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. On average, research analysts forecast that Casey’s General Stores will post 7.98 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on CASY shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Casey’s General Stores from $220.00 to $217.00 in a report on Wednesday, March 10th. Royal Bank of Canada dropped their price target on shares of Casey’s General Stores from $232.00 to $217.00 and set a “sector perform” rating for the company in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Casey’s General Stores from $185.00 to $200.00 and gave the company a “market perform” rating in a report on Thursday. Barclays upped their price objective on Casey’s General Stores from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Stephens lifted their target price on Casey’s General Stores from $215.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, June 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $213.73.

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. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverages, tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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Dividend History for Casey`s General Stores (NASDAQ:CASY)

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