Casey's General Stores, Inc. (NASDAQ:CASY) Announces Quarterly Dividend of $0.57

Key Points

• Casey's General Stores, Inc. has declared a quarterly dividend of $0.57, payable on November 14th to shareholders of record as of November 1st, with an ex-dividend date of October 31st.
• The company reported strong quarterly earnings of $5.77 per share, exceeding analysts' estimates, and an 11.5% year-over-year revenue increase, amounting to $4.57 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for Casey's stock, with an average price target of $480.62 and several price target increases from firms such as KeyCorp and BMO Capital Markets.

Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) declared a quarterly dividend on Thursday, September 4th, Wall Street Journal reports. Shareholders of record on Saturday, November 1st will be given a dividend of 0.57 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, October 31st.

Casey's General Stores has a dividend payout ratio of 11.2% indicating that its dividend is sufficiently covered by earnings. 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 $2.00 annual dividend with an expected future payout ratio of 12.7%.

Casey's General Stores Price Performance

CASY stock traded down $1.40 during mid-day trading on Friday, reaching $552.60. 135,070 shares of the company's stock were exchanged, compared to its average volume of 355,222. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.48. Casey's General Stores has a 12-month low of $362.42 and a 12-month high of $558.66. The stock's 50 day moving average is $515.51 and its 200 day moving average is $471.14. The company has a market cap of $20.55 billion, a price-to-earnings ratio of 35.60 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, beating analysts' consensus estimates of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.47 billion. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The business's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.83 earnings per share. On average, research analysts expect that Casey's General Stores will post 13.94 EPS for the current year.

Analyst Ratings Changes

CASY has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research report on Monday. Jefferies Financial Group upped their price target on shares of Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday. Royal Bank Of Canada raised their price target on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. Evercore ISI lifted their price objective on Casey's General Stores from $560.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, KeyCorp increased their target price on Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Casey's General Stores currently has an average rating of "Moderate Buy" and an average price target of $505.25.

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.