Cintas (NASDAQ:CTAS) Issues Earnings Results

Cintas (NASDAQ:CTAS) released its quarterly earnings results on Tuesday. The business services provider reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.35, MarketWatch Earnings reports. Cintas had a return on equity of 30.22% and a net margin of 15.61%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the firm earned $2.78 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year.

CTAS stock traded down $8.60 during midday trading on Thursday, hitting $380.66. The stock had a trading volume of 468,156 shares, compared to its average volume of 426,068. The firm has a market cap of $39.59 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 1.22. Cintas has a 12-month low of $311.69 and a 12-month high of $409.80. The company’s 50-day moving average price is $393.58 and its 200 day moving average price is $369.94.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Friday, August 13th were paid a $0.95 dividend. This is a boost from Cintas’s previous quarterly dividend of $0.75. This represents a $3.80 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 12th. Cintas’s payout ratio is presently 37.11%.

A number of analysts have recently weighed in on the company. Royal Bank of Canada assumed coverage on Cintas in a research report on Thursday, September 2nd. They set an “outperform” rating and a $450.00 price objective on the stock. Bank of America increased their target price on Cintas from $383.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird reissued a “buy” rating on shares of Cintas in a report on Wednesday, September 15th. Credit Suisse Group increased their target price on Cintas from $350.00 to $375.00 and gave the company a “neutral” rating in a report on Friday, July 16th. Finally, Argus increased their target price on Cintas from $390.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, July 20th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $401.60.

In other Cintas news, SVP Thomas E. Frooman sold 16,904 shares of Cintas stock in a transaction on Thursday, July 29th. The shares were sold at an average price of $392.46, for a total value of $6,634,143.84. Following the transaction, the senior vice president now owns 96,357 shares in the company, valued at approximately $37,816,268.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.80% of the stock is currently owned by insiders.

About Cintas

Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items.

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Earnings History for Cintas (NASDAQ:CTAS)

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