Casey’s General Stores Inc (NASDAQ:CASY) – Jefferies Financial Group cut their Q4 2019 earnings estimates for Casey’s General Stores in a research report issued on Tuesday, September 11th, according to Zacks Investment Research. Jefferies Financial Group analyst C. Mandeville now anticipates that the company will post earnings of $0.56 per share for the quarter, down from their previous forecast of $0.59. Jefferies Financial Group has a “Buy” rating and a $142.00 price objective on the stock. Jefferies Financial Group also issued estimates for Casey’s General Stores’ Q1 2020 earnings at $1.82 EPS, Q2 2020 earnings at $1.87 EPS, Q3 2020 earnings at $0.66 EPS, Q4 2020 earnings at $0.80 EPS, FY2020 earnings at $5.15 EPS, FY2021 earnings at $5.60 EPS and FY2022 earnings at $6.53 EPS.
A number of other equities analysts have also issued reports on the stock. Northcoast Research upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 18th. Royal Bank of Canada set a $130.00 target price on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Wednesday, September 12th. Deutsche Bank increased their target price on shares of Casey’s General Stores to $142.00 and gave the company a “buy” rating in a research report on Wednesday, September 12th. Wells Fargo & Co raised their price objective on shares of Casey’s General Stores from $97.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, September 12th. Finally, BMO Capital Markets set a $125.00 price objective on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Wednesday, September 12th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $132.78.
CASY traded down $0.92 on Thursday, reaching $123.40. The company had a trading volume of 300,353 shares, compared to its average volume of 463,046. The firm has a market capitalization of $4.72 billion, a PE ratio of 32.39, a P/E/G ratio of 3.05 and a beta of 0.49. The company has a quick ratio of 0.27, a current ratio of 0.77 and a debt-to-equity ratio of 0.99. Casey’s General Stores has a one year low of $90.42 and a one year high of $130.74.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, September 10th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.23. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 earnings per share.
A number of hedge funds have recently bought and sold shares of CASY. Aristotle Atlantic Partners LLC lifted its position in shares of Casey’s General Stores by 33.1% in the first quarter. Aristotle Atlantic Partners LLC now owns 2,426 shares of the company’s stock worth $266,000 after purchasing an additional 603 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Casey’s General Stores by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 23,087 shares of the company’s stock worth $2,535,000 after purchasing an additional 637 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Casey’s General Stores by 2.5% in the second quarter. Arizona State Retirement System now owns 26,060 shares of the company’s stock worth $2,738,000 after purchasing an additional 637 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Casey’s General Stores by 0.6% in the second quarter. Macquarie Group Ltd. now owns 121,063 shares of the company’s stock worth $12,721,000 after purchasing an additional 664 shares in the last quarter. Finally, Financial Counselors Inc. lifted its position in shares of Casey’s General Stores by 2.5% in the second quarter. Financial Counselors Inc. now owns 30,927 shares of the company’s stock worth $3,250,000 after purchasing an additional 746 shares in the last quarter. 95.72% of the stock is owned by institutional investors.
In other news, SVP Brian Joseph Johnson sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $127.43, for a total transaction of $191,145.00. Following the completion of the transaction, the senior vice president now owns 10,471 shares in the company, valued at approximately $1,334,319.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 31st. This represents a $1.16 annualized dividend and a dividend yield of 0.94%. Casey’s General Stores’s dividend payout ratio (DPR) is 30.45%.
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. The company’s stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.