Casey’s General Stores, Inc. (NASDAQ:CASY) Plans Quarterly Dividend of $0.57

Casey’s General Stores, Inc. (NASDAQ:CASY) announced a quarterly dividend on Tuesday, December 9th. Investors of record on Sunday, February 1st will be paid a dividend of 0.57 per share on Friday, February 13th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, January 30th.

Casey’s General Stores has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 24 consecutive years. Casey’s General Stores has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Casey’s General Stores to earn $15.78 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 14.4%.

Casey’s General Stores Stock Performance

Casey’s General Stores stock traded down $8.32 during midday trading on Wednesday, reaching $554.92. 200,084 shares of the stock traded hands, compared to its average volume of 341,875. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of $549.17 and a two-hundred day moving average price of $523.98. The firm has a market cap of $20.63 billion, a price-to-earnings ratio of 35.59 and a beta of 0.65. Casey’s General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $573.76.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating the consensus estimate of $4.92 by $0.61. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. Casey’s General Stores’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.85 earnings per share. On average, equities research analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on CASY shares. Wells Fargo & Company raised their target price on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Evercore ISI boosted their price target on Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Jefferies Financial Group lifted their price objective on shares of Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. Finally, BMO Capital Markets upped their price objective on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $581.22.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.