Casey's General Stores Inc (NASDAQ:CASY) – Stock analysts at William Blair dropped their FY2018 earnings per share estimates for shares of Casey's General Stores in a research note issued on Thursday. William Blair analyst R. Domyancic now forecasts that the company will earn $4.03 per share for the year, down from their previous estimate of $4.15.
Several other equities analysts have also weighed in on CASY. Royal Bank of Canada reiterated a “sector perform” rating and issued a $118.00 target price (up from $112.00) on shares of Casey's General Stores in a report on Thursday, March 8th. Zacks Investment Research lowered shares of Casey's General Stores from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Group reiterated a “buy” rating and issued a $136.00 target price on shares of Casey's General Stores in a report on Thursday, March 8th. BMO Capital Markets decreased their price objective on shares of Casey's General Stores from $122.00 to $105.00 and set a “market perform” rating on the stock in a report on Friday, March 9th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $116.00 price objective (down from $118.00) on shares of Casey's General Stores in a report on Thursday, March 8th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $123.18.
Casey's General Stores (NASDAQ:CASY) last posted its earnings results on Wednesday, March 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.14). The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.05 billion. Casey's General Stores had a net margin of 4.03% and a return on equity of 12.70%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders 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 yield of 0.93%. Casey's General Stores’s dividend payout ratio (DPR) is presently 12.12%.
Casey's General Stores declared that its board has authorized a stock buyback program on Wednesday, March 7th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Cara Kay Heiden acquired 4,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were bought at an average cost of $109.77 per share, with a total value of $439,080.00. Following the transaction, the director now owns 5,043 shares in the company, valued at approximately $553,570.11. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. Prime Capital Investment Advisors LLC acquired a new position in Casey's General Stores during the fourth quarter worth $105,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Casey's General Stores during the 4th quarter valued at about $133,000. Zions Bancorporation bought a new position in shares of Casey's General Stores during the 3rd quarter valued at about $164,000. Aristotle Atlantic Partners LLC bought a new position in shares of Casey's General Stores during the 4th quarter valued at about $204,000. Finally, Franklin Resources Inc. acquired a new stake in Casey's General Stores in the 4th quarter valued at approximately $222,000. 98.04% of the stock is currently owned by institutional investors.
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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