Casey’s General Stores, Inc. (CASY) To Go Ex-Dividend on April 30th

Casey’s General Stores, Inc. (NASDAQ:CASY) announced a quarterly dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.43 per share on Wednesday, May 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, April 30th.

Casey’s General Stores has increased its dividend payment by an average of 8.2% annually over the last three years and has increased its dividend every year for the last 23 years. Casey’s General Stores has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Casey’s General Stores to earn $14.15 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 12.2%.

Casey’s General Stores Stock Up 0.7 %

Shares of CASY stock opened at $320.03 on Friday. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.55 and a beta of 0.83. Casey’s General Stores has a 12-month low of $212.50 and a 12-month high of $324.40. The firm has a fifty day moving average of $307.99 and a 200-day moving average of $287.68. The company has a quick ratio of 0.42, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. Casey’s General Stores had a net margin of 3.23% and a return on equity of 16.70%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.36 earnings per share. As a group, equities research analysts predict that Casey’s General Stores will post 12.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

CASY has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $312.00 target price on shares of Casey’s General Stores in a research report on Wednesday, March 6th. BMO Capital Markets raised their target price on shares of Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, March 13th. Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com downgraded shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Evercore ISI decreased their price objective on shares of Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $312.63.

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. 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.