Casey’s General Stores (NASDAQ:CASY) Issues Quarterly Earnings Results, Beats Expectations By $0.59 EPS

Casey’s General Stores (NASDAQ:CASY) issued its quarterly earnings data on Tuesday. The company reported $7.37 EPS for the quarter, topping analysts’ consensus estimates of $6.78 by $0.59, FiscalAI reports. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the previous year, the firm posted $5.77 earnings per share. The firm’s quarterly revenue was up 24.3% on a year-over-year basis.

Casey’s General Stores Trading Down 3.0%

CASY opened at $733.49 on Wednesday. Casey’s General Stores has a 12-month low of $497.38 and a 12-month high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60. The stock has a market capitalization of $27.14 billion, a PE ratio of 38.28, a P/E/G ratio of 2.58 and a beta of 0.59. The firm’s fifty day moving average price is $825.39 and its 200 day moving average price is $786.82.

Casey’s General Stores Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Sunday, November 1st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, October 30th. Casey’s General Stores’s dividend payout ratio is presently 13.57%.

Insider Buying and Selling

In other news, CEO Darren Rebelez sold 19,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the completion of the sale, the chief executive officer owned 89,174 shares of the company’s stock, valued at approximately $71,469,394.04. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chad Frazell sold 3,013 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the sale, the insider owned 9,823 shares in the company, valued at approximately $7,735,514.27. This trade represents a 23.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors have recently made changes to their positions in CASY. Corient Private Wealth LLC lifted its stake in Casey’s General Stores by 115.9% during the fourth quarter. Corient Private Wealth LLC now owns 423,666 shares of the company’s stock worth $234,164,000 after purchasing an additional 227,403 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Casey’s General Stores by 146.4% in the 3rd quarter. Squarepoint Ops LLC now owns 157,119 shares of the company’s stock worth $88,823,000 after buying an additional 93,366 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Casey’s General Stores by 98.2% in the 2nd quarter. Holocene Advisors LP now owns 150,075 shares of the company’s stock valued at $76,579,000 after buying an additional 74,371 shares during the period. Marshall Wace LLP grew its position in shares of Casey’s General Stores by 291.6% during the 4th quarter. Marshall Wace LLP now owns 94,681 shares of the company’s stock valued at $52,331,000 after buying an additional 70,504 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Casey’s General Stores during the third quarter worth about $38,599,000. 85.63% of the stock is currently owned by institutional investors.

Casey’s General Stores News Summary

Here are the key news stories impacting Casey’s General Stores this week:

• Positive Sentiment: Casey’s reported diluted earnings of $7.37 per share, up 27.7% year over year and above analysts’ $6.78 consensus. Revenue increased 24.3% to approximately $5.68 billion, also exceeding expectations. Net income rose 27.1% to $273.7 million, while EBITDA climbed 17.1% to $485.1 million. Casey’s Announces First Quarter Results
• Positive Sentiment: Fuel margins were a major contributor to the quarter’s performance, helping Casey’s surpass Wall Street forecasts. The company also has a record of earnings surprises, which may support the longer-term outlook. Casey’s beats Q1 estimates on fuel margin surge
• Positive Sentiment: The company declared a quarterly dividend of $0.65 per share, payable November 13 to shareholders of record November 1. The annualized yield is modest at roughly 0.4%, but the payout adds to shareholder returns. Casey’s dividend announcement
• Neutral Sentiment: Analysts and market coverage characterized the results as a good quarter that faced unusually high investor expectations, making the earnings beat insufficient to drive the shares higher. Casey’s Q1: Good Quarter, Tough Expectations
• Negative Sentiment: Inside same-store sales increased 3.2%, but growth slowed from the prior year. The deceleration raises concerns about underlying consumer demand and whether Casey’s can sustain its growth rate. Casey’s Same-Store Sales Growth Declines
• Negative Sentiment: With a market capitalization near $27 billion and a price-to-earnings ratio above 38, Casey’s is valued for substantial continued growth. The weaker same-store sales trend and post-earnings profit-taking appear to be outweighing the quarterly beat. Casey’s Earnings Beat Estimates: Why the Stock Is Falling

Analyst Upgrades and Downgrades

Several research firms recently commented on CASY. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Evercore reaffirmed an “outperform” rating and issued a $990.00 price objective on shares of Casey’s General Stores in a research report on Friday, June 12th. BNP Paribas Exane reduced their target price on shares of Casey’s General Stores from $1,032.00 to $995.00 and set an “outperform” rating on the stock in a research report on Thursday, June 25th. William Blair began coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group raised their price target on shares of Casey’s General Stores from $695.00 to $795.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $928.53.

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.