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

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) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, May 1st.

Casey’s General Stores has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 24 years. Casey’s General Stores has a dividend payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ CASY opened at $664.54 on Tuesday. The firm’s 50-day simple moving average is $634.03 and its 200 day simple moving average is $575.80. The stock has a market cap of $24.63 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.29 and a beta of 0.65. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. Casey’s General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $690.00.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, March 9th. The company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.55. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $4.08 billion. During the same quarter last year, the business earned $2.33 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts expect that Casey’s General Stores will post 13.94 EPS for the current year.

Analysts Set New Price Targets

CASY has been the topic of several recent research reports. Evercore set a $665.00 price objective on shares of Casey’s General Stores and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on shares of Casey’s General Stores in a research note on Thursday, January 8th. Zacks Research lowered Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research report on Wednesday, December 10th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $655.00.

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.