Casey's General Stores Inc (NASDAQ:CASY) – Equities researchers at Gabelli reduced their FY2020 earnings per share estimates for shares of Casey's General Stores in a note issued to investors on Thursday. Gabelli analyst D. Witkowski now expects that the company will post earnings of $5.00 per share for the year, down from their previous forecast of $5.55. Gabelli has a “Buy” rating and a $162.00 price target on the stock. Gabelli also issued estimates for Casey's General Stores’ FY2021 earnings at $5.85 EPS.
Casey's General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.14). Casey's General Stores had a return on equity of 12.70% and a net margin of 4.03%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year.
Shares of Casey's General Stores (NASDAQ CASY) opened at $110.80 on Monday. Casey's General Stores has a 12-month low of $99.76 and a 12-month high of $128.51. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 0.48. The stock has a market cap of $4,159.00, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.16 and a beta of 0.58.
Casey's General Stores declared that its board has initiated a share repurchase plan on Wednesday, March 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, April 30th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.94%. Casey's General Stores’s dividend payout ratio is currently 12.12%.
In other Casey's General Stores news, Director Cara Kay Heiden purchased 4,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were acquired at an average price of $109.77 per share, for a total transaction of $439,080.00. Following the acquisition, the director now owns 5,043 shares of the company’s stock, valued at $553,570.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC acquired a new position in Casey's General Stores in the 4th quarter valued at $105,000. Amundi Pioneer Asset Management Inc. acquired a new position in Casey's General Stores in the 4th quarter valued at $133,000. Zions Bancorporation acquired a new position in Casey's General Stores in the 3rd quarter valued at $164,000. Aristotle Atlantic Partners LLC acquired a new position in Casey's General Stores in the 4th quarter valued at $204,000. Finally, Franklin Resources Inc. acquired a new position in Casey's General Stores in the 4th quarter valued at $222,000. Institutional investors and hedge funds own 98.04% of the company’s stock.
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About Casey's General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
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