Cintas Co. (NASDAQ:CTAS) to Issue Quarterly Dividend of $0.39

Cintas Co. (NASDAQ:CTAS) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.39 per share by the business services provider on Friday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.81%.

Cintas has increased its dividend by an average of 19.6% per year over the last three years and has raised its dividend every year for the last 42 years. Cintas has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas to earn $4.64 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 33.6%.

Cintas Stock Performance

Shares of CTAS stock traded up $1.68 during mid-day trading on Tuesday, reaching $192.28. The stock had a trading volume of 1,582,814 shares, compared to its average volume of 2,246,937. Cintas has a one year low of $146.29 and a one year high of $228.12. The firm has a market cap of $77.55 billion, a PE ratio of 48.56, a P/E/G ratio of 4.16 and a beta of 1.33. The firm’s 50 day simple moving average is $206.94 and its 200 day simple moving average is $204.75. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.61 earnings per share. On average, analysts forecast that Cintas will post 4.23 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on CTAS. Jefferies Financial Group cut their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Truist Financial decreased their price target on Cintas from $225.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and set a $215.00 price objective on shares of Cintas in a report on Friday, December 20th. Finally, Wells Fargo & Company lowered their target price on shares of Cintas from $191.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $198.46.

About Cintas

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.