Zacks: Brokerages Expect Cintas Co. (NASDAQ:CTAS) Will Post Quarterly Sales of $1.78 Billion

Analysts predict that Cintas Co. (NASDAQ:CTAS) will post sales of $1.78 billion for the current quarter, Zacks reports. Five analysts have made estimates for Cintas’ earnings. Cintas posted sales of $1.67 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6.6%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, July 16th.

According to Zacks, analysts expect that Cintas will report full year sales of $6.88 billion for the current year, with estimates ranging from $6.87 billion to $6.88 billion. For the next year, analysts forecast that the firm will report sales of $7.28 billion, with estimates ranging from $7.24 billion to $7.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Cintas.

A number of equities research analysts have issued reports on the company. BidaskClub cut Xperi from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 19th. Morgan Stanley set a $23.00 target price on Murphy Oil and gave the company a “sell” rating in a research note on Friday, March 22nd. William Blair restated an “outperform” rating on shares of American Software in a research note on Thursday, June 20th. JPMorgan Chase & Co. set a $45.00 target price on Ciena and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Zacks Investment Research lowered G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $200.05.

Cintas stock traded up $1.40 during mid-day trading on Thursday, reaching $240.09. The company’s stock had a trading volume of 14,633 shares, compared to its average volume of 486,587. The company has a market capitalization of $24.93 billion, a price-to-earnings ratio of 40.40, a price-to-earnings-growth ratio of 2.37 and a beta of 0.99. The firm’s 50 day moving average is $231.83. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.80. Cintas has a twelve month low of $155.98 and a twelve month high of $240.17.

In other Cintas news, Director Joseph Scaminace sold 6,255 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $222.20, for a total transaction of $1,389,861.00. Following the completion of the transaction, the director now directly owns 7,973 shares in the company, valued at $1,771,600.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 19.10% of the company’s stock.

Several hedge funds have recently made changes to their positions in CTAS. Capital Financial Planning LLC bought a new stake in shares of Cintas during the fourth quarter worth $29,000. Financial Gravity Wealth Inc. bought a new position in Cintas in the first quarter valued at about $36,000. CWM LLC boosted its holdings in Cintas by 52.4% in the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. Washington Trust Bank bought a new position in Cintas in the first quarter valued at about $45,000. Finally, Resources Investment Advisors Inc. bought a new position in Cintas in the first quarter valued at about $81,000. Institutional investors own 67.05% of the company’s stock.

Cintas Company Profile

Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.

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Earnings History and Estimates for Cintas (NASDAQ:CTAS)

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