Casey’s General Stores Inc. (NASDAQ:CASY) – Equities research analysts at Jefferies Group increased their Q1 2018 earnings per share (EPS) estimates for Casey’s General Stores in a research note issued on Friday. Jefferies Group analyst C. Mandeville now forecasts that the firm will post earnings of $1.94 per share for the quarter, up from their previous estimate of $1.92. Jefferies Group has a “Buy” rating and a $134.00 price objective on the stock.
Several other equities analysts have also commented on the stock. Goldman Sachs Group Inc. upgraded shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and increased their price objective for the company from $123.00 to $145.00 in a research report on Wednesday, June 29th. Bank of America Corp. started coverage on shares of Casey’s General Stores in a report on Monday, July 25th. They issued a “buy” rating and a $150.00 target price for the company. Royal Bank Of Canada raised their target price on shares of Casey’s General Stores from $139.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, September 1st. Barclays PLC started coverage on shares of Casey’s General Stores in a report on Thursday, September 22nd. They issued an “equal weight” rating and a $116.00 target price for the company. Finally, Deutsche Bank AG raised their target price on shares of Casey’s General Stores from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $135.90.
Casey’s General Stores (NASDAQ:CASY) traded down 0.19% during midday trading on Monday, reaching $116.98. 56,438 shares of the company traded hands. The company has a 50 day moving average price of $124.85 and a 200-day moving average price of $121.70. Casey’s General Stores has a one year low of $98.80 and a one year high of $136.22. The stock has a market capitalization of $4.58 billion, a P/E ratio of 19.96 and a beta of 0.51.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.81 by $0.11. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The business had revenue of $1.97 billion for the quarter. During the same quarter in the prior year, the firm earned $1.57 earnings per share. Casey’s General Stores’s quarterly revenue was down 3.8% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Tuesday, November 1st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, October 28th. Casey’s General Stores’s payout ratio is currently 16.38%.
In other news, Director Richard A. Wilkey acquired 340 shares of the business’s stock in a transaction dated Wednesday, September 21st. The shares were purchased at an average price of $117.80 per share, with a total value of $40,052.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $1,767,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new position in shares of Casey’s General Stores during the second quarter worth about $132,000. IFP Advisors Inc boosted its stake in Casey’s General Stores by 179.3% in the first quarter. IFP Advisors Inc now owns 1,271 shares of the company’s stock worth $144,000 after buying an additional 816 shares during the period. Calamos Wealth Management LLC bought a new stake in Casey’s General Stores during the second quarter worth approximately $205,000. Dynamic Technology Lab Private Ltd bought a new stake in Casey’s General Stores during the second quarter worth approximately $211,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Casey’s General Stores during the second quarter worth approximately $221,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
Casey’s General Stores Company Profile
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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