Casey’s General Stores (NASDAQ:CASY) Posts Quarterly Earnings Results, Beats Estimates By $1.16 EPS

Casey’s General Stores (NASDAQ:CASY) announced its quarterly earnings data on Tuesday. The company reported $4.52 EPS for the quarter, beating analysts’ consensus estimates of $3.36 by $1.16, MarketWatch Earnings reports. The business had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.90 billion. Casey’s General Stores had a net margin of 2.96% and a return on equity of 17.13%. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.09 earnings per share.

Casey’s General Stores Stock Performance

Shares of Casey’s General Stores stock opened at $275.69 on Thursday. The firm has a 50 day simple moving average of $247.71 and a 200 day simple moving average of $231.58. Casey’s General Stores has a fifty-two week low of $197.22 and a fifty-two week high of $275.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.99 and a quick ratio of 0.59. The firm has a market cap of $10.31 billion, a P/E ratio of 23.13 and a beta of 0.83.

Casey’s General Stores Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $1.72 annualized dividend and a dividend yield of 0.62%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 14.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Money Concepts Capital Corp lifted its stake in shares of Casey’s General Stores by 62.7% during the fourth quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the period. Sunbelt Securities Inc. grew its position in shares of Casey’s General Stores by 46.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock worth $31,000 after buying an additional 41 shares during the period. Fortis Capital Advisors LLC acquired a new position in Casey’s General Stores in the first quarter valued at approximately $31,000. Milestone Investment Advisors LLC acquired a new position in Casey’s General Stores in the first quarter valued at approximately $34,000. Finally, ICA Group Wealth Management LLC boosted its stake in Casey’s General Stores by 138.9% in the first quarter. ICA Group Wealth Management LLC now owns 215 shares of the company’s stock valued at $47,000 after acquiring an additional 125 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. SpectralCast restated a “maintains” rating on shares of Casey’s General Stores in a research report on Thursday, June 8th. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $280.00 price objective on shares of Casey’s General Stores in a research note on Tuesday. BMO Capital Markets lifted their price objective on Casey’s General Stores from $270.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, StockNews.com assumed coverage on shares of Casey’s General Stores in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.11.

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.