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

Cintas Co. (NASDAQ:CTAS) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.39 per share by the business services provider on Friday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 14th.

Cintas has increased its dividend payment by an average of 19.6% per year over the last three years. Cintas has a payout ratio of 29.7% meaning its dividend is sufficiently covered by earnings. Research 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 $205.40 on Wednesday. The company has a fifty day moving average of $198.50 and a 200-day moving average of $207.36. The firm has a market capitalization of $82.89 billion, a P/E ratio of 49.52, a P/E/G ratio of 3.95 and a beta of 1.38. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas has a twelve month low of $150.70 and a twelve month high of $228.12.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.56 billion. Cintas had a net margin of 17.23% and a return on equity of 40.62%. Cintas’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.61 EPS. As a group, sell-side analysts anticipate that Cintas will post 4.31 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on CTAS. Robert W. Baird reduced their price target on shares of Cintas from $209.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group reduced their price target on shares of Cintas from $236.00 to $211.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $215.00 price target on shares of Cintas in a research report on Friday, December 20th. Finally, UBS Group reduced their price target on shares of Cintas from $240.00 to $218.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $198.46.

About Cintas

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.