Cintas Co. (NASDAQ:CTAS) Declares $0.39 Quarterly Dividend

Cintas Co. (NASDAQ:CTAS) declared a quarterly dividend on Tuesday, April 8th, RTT News reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.39 per share by the business services provider on Friday, June 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.82%.

Cintas has raised its dividend payment by an average of 19.6% annually over the last three years and has increased its dividend every year for the last 42 years. Cintas has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cintas to earn $4.77 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 32.7%.

Cintas Stock Performance

NASDAQ:CTAS opened at $190.11 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. Cintas has a twelve month low of $162.16 and a twelve month high of $228.12. The stock has a market cap of $76.72 billion, a P/E ratio of 45.84, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. The firm’s fifty day simple moving average is $200.86 and its 200 day simple moving average is $204.28.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the firm posted $3.84 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Cintas will post 4.31 EPS for the current year.

Hedge Funds Weigh In On Cintas

A hedge fund recently raised its stake in Cintas stock. Brighton Jones LLC lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,268 shares of the business services provider’s stock after purchasing an additional 108 shares during the quarter. Brighton Jones LLC’s holdings in Cintas were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 63.46% of the company’s stock.

Wall Street Analyst Weigh In

CTAS has been the subject of several research reports. Truist Financial increased their target price on Cintas from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Robert W. Baird raised their price objective on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Thursday, March 27th. Citigroup initiated coverage on shares of Cintas in a research report on Monday, February 24th. They set a “sell” rating and a $161.00 price target for the company. Finally, UBS Group upped their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $210.58.

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.