Cintas Co. to Issue Quarterly Dividend of $0.39 (NASDAQ:CTAS)

Cintas Co. (NASDAQ:CTAS) declared a quarterly dividend on Tuesday, April 8th, RTT News reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.39 per share by the business services provider on Friday, June 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.82%.

Cintas has raised its dividend payment by an average of 19.6% per year over the last three years and has increased its dividend every year for the last 42 years. Cintas has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cintas to earn $4.77 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 32.7%.

Cintas Stock Performance

NASDAQ:CTAS opened at $190.11 on Wednesday. Cintas has a 52-week low of $162.16 and a 52-week high of $228.12. The business’s fifty day moving average is $200.86 and its 200 day moving average is $204.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.58. The firm has a market cap of $76.72 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 3.98 and a beta of 1.20.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.84 earnings per share. Research analysts predict that Cintas will post 4.31 EPS for the current year.

Institutional Trading of Cintas

A hedge fund recently raised its stake in Cintas stock. Brighton Jones LLC raised its position in Cintas Co. (NASDAQ:CTAS) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,268 shares of the business services provider’s stock after acquiring an additional 108 shares during the quarter. Brighton Jones LLC’s holdings in Cintas were worth $232,000 at the end of the most recent quarter. Institutional investors own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTAS. Truist Financial boosted their price target on shares of Cintas from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the stock an “underweight” rating in a research report on Thursday, March 27th. Robert W. Baird raised their price target on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Morgan Stanley boosted their price objective on Cintas from $195.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, UBS Group raised their target price on shares of Cintas from $218.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $210.58.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.