Vestis Co. (NYSE:VSTS) Declares $0.04 Quarterly Dividend

Vestis Co. (NYSE:VSTS) declared a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, February 21st will be paid a dividend of 0.035 per share on Tuesday, March 18th. This represents a $0.14 annualized dividend and a dividend yield of 1.01%.

Vestis has a dividend payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Vestis to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 16.9%.

Vestis Stock Down 12.3 %

VSTS stock opened at $13.89 on Friday. The company has a 50 day moving average price of $16.01 and a two-hundred day moving average price of $14.70. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The stock has a market capitalization of $1.83 billion, a P/E ratio of 86.83 and a beta of 1.17. Vestis has a one year low of $8.92 and a one year high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 9.07% and a net margin of 0.75%. During the same period in the prior year, the company earned $0.22 earnings per share. As a group, sell-side analysts expect that Vestis will post 0.66 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VSTS shares. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, Vestis presently has a consensus rating of “Hold” and a consensus price target of $14.08.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.