Cintas (NASDAQ:CTAS) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $10.600-$10.900 for the period, compared to the Thomson Reuters consensus estimate of $10.710. The company issued revenue guidance of $7.58 billion-$7.67 billion, compared to the consensus revenue estimate of $7.62 billion.
A number of equities research analysts have commented on the company. Robert W. Baird reiterated a buy rating on shares of Cintas in a research report on Wednesday, September 15th. Morgan Stanley reduced their price target on Cintas from $368.00 to $365.00 and set an equal weight rating on the stock in a research report on Thursday, September 30th. Argus upped their price target on Cintas from $390.00 to $410.00 and gave the company a buy rating in a research report on Tuesday, July 20th. Credit Suisse Group upped their target price on Cintas from $350.00 to $375.00 and gave the company a neutral rating in a research report on Friday, July 16th. Finally, Royal Bank of Canada initiated coverage on Cintas in a research report on Thursday, September 2nd. They set an outperform rating and a $450.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $401.78.
CTAS stock traded up $5.05 during trading on Thursday, reaching $410.38. 726 shares of the stock were exchanged, compared to its average volume of 423,580. The firm’s 50 day moving average is $394.54 and its 200 day moving average is $373.82. Cintas has a twelve month low of $311.69 and a twelve month high of $409.80. The company has a current ratio of 1.47, a quick ratio of 1.22 and a debt-to-equity ratio of 0.45. The firm has a market cap of $42.44 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 3.95 and a beta of 1.50.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 13th were paid a $0.95 dividend. The ex-dividend date was Thursday, August 12th. This is an increase from Cintas’s previous quarterly dividend of $0.75. This represents a $3.80 annualized dividend and a dividend yield of 0.93%. Cintas’s dividend payout ratio is 37.11%.
In other news, Director Melanie W. Barstad sold 3,011 shares of the stock in a transaction that occurred on Thursday, October 7th. The stock was sold at an average price of $398.56, for a total value of $1,200,064.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas E. Frooman sold 16,904 shares of the stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $392.46, for a total value of $6,634,143.84. Following the completion of the sale, the senior vice president now directly owns 96,357 shares of the company’s stock, valued at $37,816,268.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,142 shares of company stock valued at $15,705,343. Company insiders own 15.80% of the company’s stock.
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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