Cintas (NASDAQ:CTAS) Issues FY24 Earnings Guidance

Cintas (NASDAQ:CTAS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $14.80-15.00 for the period, compared to the consensus EPS estimate of $14.59. The company issued revenue guidance of $9.57-9.60 billion, compared to the consensus revenue estimate of $9.56 billion.

Cintas Stock Down 0.4 %

CTAS stock opened at $633.40 on Wednesday. The company has a market cap of $64.21 billion, a PE ratio of 45.97, a price-to-earnings-growth ratio of 3.68 and a beta of 1.27. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. Cintas has a twelve month low of $436.54 and a twelve month high of $644.96. The business’s 50-day simple moving average is $618.16 and its 200 day simple moving average is $565.73.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the business posted $3.14 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that Cintas will post 14.57 earnings per share for the current year.

Cintas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were given a $1.35 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $5.40 annualized dividend and a dividend yield of 0.85%. Cintas’s dividend payout ratio is 39.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTAS. Royal Bank of Canada increased their price target on shares of Cintas from $525.00 to $645.00 and gave the company an outperform rating in a report on Friday, December 22nd. Barclays boosted their price target on Cintas from $630.00 to $700.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Stifel Nicolaus raised their price objective on Cintas from $526.00 to $585.00 and gave the stock a hold rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. upped their target price on Cintas from $540.00 to $640.00 and gave the company an overweight rating in a research note on Friday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Cintas from a buy rating to a hold rating and lifted their price target for the stock from $551.00 to $590.00 in a research note on Friday, December 8th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cintas currently has a consensus rating of Moderate Buy and an average price target of $571.29.

Institutional Investors Weigh In On Cintas

A number of large investors have recently bought and sold shares of the business. Quarry LP boosted its stake in Cintas by 221.1% in the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after purchasing an additional 42 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Cintas in the 1st quarter valued at about $36,000. Clearstead Advisors LLC bought a new position in shares of Cintas in the third quarter worth about $39,000. Harbour Investments Inc. lifted its position in shares of Cintas by 315.0% during the fourth quarter. Harbour Investments Inc. now owns 83 shares of the business services provider’s stock worth $50,000 after purchasing an additional 63 shares in the last quarter. Finally, O Dell Group LLC acquired a new stake in shares of Cintas in the fourth quarter valued at approximately $51,000. 63.46% of the stock is currently owned by institutional investors.

Cintas Company Profile

Cintas Corporation provides 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.