Casey’s General Stores, Inc. (CASY) To Go Ex-Dividend on May 1st

Casey’s General Stores, Inc. (NASDAQ:CASY) declared a quarterly dividend on Monday, March 9th. Investors of record on Friday, May 1st will be paid a dividend of 0.57 per share on Friday, May 15th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, May 1st.

Casey’s General Stores has raised its dividend 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% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 3.8%

CASY stock opened at $689.92 on Wednesday. Casey’s General Stores has a 12 month low of $372.08 and a 12 month high of $693.60. The company has a market capitalization of $25.58 billion, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. The firm’s fifty day simple moving average is $636.60 and its 200-day simple moving average is $577.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, March 9th. The company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.55. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Casey’s General Stores had a return on equity of 17.80% and a net margin of 3.83%.Casey’s General Stores’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 EPS. As a group, equities research analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current year.

Analysts Set New Price Targets

CASY has been the topic of a number of research analyst reports. Zacks Research cut Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. BMO Capital Markets reissued a “market perform” rating and set a $700.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on shares of Casey’s General Stores in a research report on Thursday, January 8th. Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $725.00 to $745.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, UBS Group reaffirmed a “neutral” rating on shares of Casey’s General Stores in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $680.10.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.