Casey’s General Stores (NASDAQ:CASY) Posts Quarterly Earnings Results

Casey’s General Stores (NASDAQ:CASY) posted its quarterly earnings results on Tuesday. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57, Zacks reports. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.74 billion. During the same period in the prior year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 17.2% on a year-over-year basis.

Casey’s General Stores Stock Down 0.8 %

Shares of NASDAQ:CASY opened at $378.71 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The firm has a market cap of $14.06 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 2.40 and a beta of 0.87. The stock’s 50-day moving average price is $409.64 and its two-hundred day moving average price is $399.61. Casey’s General Stores has a 12-month low of $290.00 and a 12-month high of $445.17.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CASY shares. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. StockNews.com cut Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Finally, Evercore ISI dropped their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.18.

Insider Activity

In other news, Director Mike Spanos bought 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average price of $396.76 per share, for a total transaction of $198,380.00. Following the completion of the acquisition, the director now owns 3,097 shares of the company’s stock, valued at $1,228,765.72. The trade was a 19.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katrina S. Lindsey sold 450 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now directly owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.