Cintas Co. (NASDAQ:CTAS) Expected to Post Quarterly Sales of $1.82 Billion

Analysts predict that Cintas Co. (NASDAQ:CTAS) will report sales of $1.82 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Cintas’ earnings, with the lowest sales estimate coming in at $1.82 billion and the highest estimate coming in at $1.83 billion. Cintas posted sales of $1.72 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, December 17th.

According to Zacks, analysts expect that Cintas will report full-year sales of $7.32 billion for the current year, with estimates ranging from $7.30 billion to $7.33 billion. For the next financial year, analysts forecast that the company will report sales of $7.75 billion, with estimates ranging from $7.70 billion to $7.79 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Cintas.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings data on Tuesday, September 24th. The business services provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.17. Cintas had a net margin of 13.18% and a return on equity of 28.61%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the company earned $1.93 EPS. The business’s revenue was up 6.7% on a year-over-year basis.

Several equities research analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on Cintas from $267.00 to $275.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Jefferies Financial Group initiated coverage on Cintas in a report on Wednesday, November 27th. They issued a “buy” rating and a $308.00 price objective for the company. Morgan Stanley lifted their price objective on Cintas from $217.00 to $223.00 and gave the company an “underweight” rating in a report on Thursday, October 10th. Stifel Nicolaus upped their target price on Cintas from $226.00 to $256.00 and gave the company a “hold” rating in a research report on Wednesday, September 25th. Finally, Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $266.55.

Shares of CTAS traded up $2.56 during mid-day trading on Wednesday, hitting $261.81. 713,872 shares of the company’s stock were exchanged, compared to its average volume of 530,124. The company has a quick ratio of 1.74, a current ratio of 2.04 and a debt-to-equity ratio of 0.87. Cintas has a 52 week low of $155.98 and a 52 week high of $277.85. The stock’s 50-day simple moving average is $260.64 and its 200-day simple moving average is $253.88. The firm has a market cap of $26.71 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

The company also recently disclosed an annual dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a dividend of $2.55 per share. The ex-dividend date was Thursday, November 7th. Cintas’s dividend payout ratio is currently 33.55%.

Cintas announced that its board has authorized a stock repurchase program on Tuesday, October 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other Cintas news, CAO Michael Lawrence Thompson sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $268.23, for a total value of $536,460.00. Following the sale, the chief accounting officer now owns 62,906 shares of the company’s stock, valued at approximately $16,873,276.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 15.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Charter Trust Co. grew its holdings in shares of Cintas by 3.2% during the 2nd quarter. Charter Trust Co. now owns 2,421 shares of the business services provider’s stock valued at $574,000 after purchasing an additional 76 shares during the last quarter. CSat Investment Advisory L.P. grew its stake in shares of Cintas by 229.8% during the second quarter. CSat Investment Advisory L.P. now owns 277 shares of the business services provider’s stock worth $66,000 after buying an additional 193 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Cintas during the third quarter worth $1,050,000. Tower Research Capital LLC TRC acquired a new position in shares of Cintas during the third quarter worth $610,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Cintas by 2.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 52,599 shares of the business services provider’s stock valued at $12,472,000 after acquiring an additional 1,260 shares in the last quarter. 66.08% of the stock is owned by hedge funds and other institutional investors.

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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