Caseys General Stores, Inc. (NASDAQ:CASY) announced a quarterly dividend on Monday, June 5th, RTT News reports. Investors of record on Tuesday, August 1st will be paid a dividend of 0.26 per share on Tuesday, August 15th. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, July 28th. This is a boost from Caseys General Stores’s previous quarterly dividend of $0.24.
Caseys General Stores has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 14 years. Caseys General Stores has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Caseys General Stores to earn $5.04 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 20.6%.
Shares of Caseys General Stores (NASDAQ CASY) traded down 1.36% during midday trading on Tuesday, reaching $106.56. 189,581 shares of the company were exchanged. Caseys General Stores has a 52 week low of $105.50 and a 52 week high of $136.22. The firm has a market capitalization of $4.15 billion, a P/E ratio of 23.79 and a beta of 0.48. The firm has a 50-day moving average of $112.61 and a 200 day moving average of $114.89.
Caseys General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, June 5th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.85 by $0.09. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.88 billion. Caseys General Stores had a return on equity of 14.93% and a net margin of 2.36%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.19 earnings per share. On average, equities research analysts expect that Caseys General Stores will post $4.57 EPS for the current year.
Several equities analysts recently commented on the company. BMO Capital Markets set a $116.00 price target on Caseys General Stores and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Sidoti lowered Caseys General Stores from a “buy” rating to a “neutral” rating and cut their target price for the company from $130.00 to $118.00 in a research report on Tuesday, June 6th. Zacks Investment Research lowered Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Jefferies Group LLC set a $139.00 target price on Caseys General Stores and gave the company a “buy” rating in a research report on Thursday, May 18th. Finally, Northcoast Research lowered Caseys General Stores from a “buy” rating to a “neutral” rating in a research report on Thursday, March 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $120.50.
About Caseys 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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