Casey’s General Stores (NASDAQ:CASY) Announces Earnings Results

Casey’s General Stores (NASDAQ:CASYGet Rating) posted its quarterly earnings data on Tuesday. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.12, Briefing.com reports. Casey’s General Stores had a net margin of 2.62% and a return on equity of 16.08%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 45.4% compared to the same quarter last year.

Shares of CASY traded up $0.70 during trading hours on Thursday, hitting $198.63. 372 shares of the stock were exchanged, compared to its average volume of 289,014. Casey’s General Stores has a fifty-two week low of $170.82 and a fifty-two week high of $216.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.84 and a quick ratio of 0.39. The business has a 50-day moving average of $205.52 and a 200-day moving average of $195.41. The firm has a market capitalization of $7.37 billion, a P/E ratio of 21.77 and a beta of 0.77.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Monday, August 1st will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, July 29th. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 0.77%. Casey’s General Stores’s dividend payout ratio is 15.40%.

A number of analysts have recently weighed in on CASY shares. StockNews.com started coverage on shares of Casey’s General Stores in a report on Thursday, March 31st. They set a “buy” rating for the company. Wells Fargo & Company began coverage on shares of Casey’s General Stores in a report on Wednesday, May 25th. They set an “overweight” rating and a $240.00 price target for the company. Royal Bank of Canada lowered their price objective on shares of Casey’s General Stores from $250.00 to $238.00 in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $257.00 to $259.00 and gave the stock a “buy” rating in a research report on Thursday, March 10th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $232.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley lifted its stake in shares of Casey’s General Stores by 79.7% in the second quarter. Morgan Stanley now owns 118,252 shares of the company’s stock valued at $23,017,000 after buying an additional 52,443 shares in the last quarter. LPL Financial LLC boosted its holdings in Casey’s General Stores by 8.4% during the fourth quarter. LPL Financial LLC now owns 13,278 shares of the company’s stock worth $2,615,000 after purchasing an additional 1,025 shares during the last quarter. MML Investors Services LLC boosted its holdings in Casey’s General Stores by 30.4% during the fourth quarter. MML Investors Services LLC now owns 2,198 shares of the company’s stock worth $434,000 after purchasing an additional 512 shares during the last quarter. Stifel Financial Corp boosted its holdings in Casey’s General Stores by 12.0% during the fourth quarter. Stifel Financial Corp now owns 10,180 shares of the company’s stock worth $2,009,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its holdings in Casey’s General Stores by 10.1% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 6,634 shares of the company’s stock worth $1,309,000 after purchasing an additional 610 shares during the last quarter. 84.44% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile (Get Rating)

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 a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.

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Earnings History for Casey's General Stores (NASDAQ:CASY)

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