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

Cintas Co. (NASDAQ:CTAS) declared a quarterly dividend on Tuesday, October 29th, RTT News reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.39 per share by the business services provider on Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.75%.

Cintas has increased its dividend payment by an average of 92.6% annually over the last three years and has increased its dividend every year for the last 42 years. Cintas has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas to earn $4.62 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 33.8%.

Cintas Trading Down 0.7 %

NASDAQ:CTAS traded down $1.52 during mid-day trading on Wednesday, hitting $207.62. The company had a trading volume of 35,582 shares, compared to its average volume of 1,453,487. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. Cintas has a fifty-two week low of $125.62 and a fifty-two week high of $215.37. The firm has a market cap of $21.07 billion, a P/E ratio of 14.44, a P/E/G ratio of 4.12 and a beta of 1.32. The business’s fifty day moving average is $217.14 and its two-hundred day moving average is $191.17.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. Cintas’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company posted $3.70 EPS. As a group, research analysts expect that Cintas will post 4.23 earnings per share for the current year.

Cintas declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CTAS has been the topic of several recent analyst reports. Morgan Stanley lifted their target price on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. UBS Group boosted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company raised their target price on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Stifel Nicolaus upped their price target on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Barclays raised their price objective on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $199.63.

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.