Cintas (NASDAQ:CTAS) Issues FY 2024 Earnings Guidance

Cintas (NASDAQ:CTAS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 14.800-15.000 for the period, compared to the consensus estimate of 14.600. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.6 billion. Cintas also updated its FY24 guidance to $14.80-15.00 EPS.

Analyst Ratings Changes

CTAS has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Cintas from $673.00 to $765.00 and gave the company a buy rating in a research note on Thursday. Robert W. Baird lifted their target price on shares of Cintas from $660.00 to $750.00 and gave the stock an outperform rating in a research note on Thursday. Truist Financial boosted their price objective on shares of Cintas from $660.00 to $775.00 and gave the company a buy rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Cintas from $629.00 to $726.00 and gave the stock a hold rating in a report on Thursday. Finally, Barclays raised their price target on shares of Cintas from $630.00 to $700.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $649.60.

Cintas Price Performance

Shares of NASDAQ CTAS opened at $687.03 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.89 and a current ratio of 2.38. Cintas has a one year low of $438.59 and a one year high of $704.84. The firm has a market cap of $69.64 billion, a PE ratio of 47.45, a PEG ratio of 3.85 and a beta of 1.27. The firm has a fifty day moving average of $620.99 and a 200 day moving average of $567.53.

Cintas (NASDAQ:CTAS) last released its earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a net margin of 15.98% and a return on equity of 37.19%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the prior year, the firm earned $3.14 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, research analysts predict that Cintas will post 15.05 EPS for the current fiscal year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s dividend payout ratio is currently 37.29%.

Hedge Funds Weigh In On Cintas

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP lifted its holdings in shares of Cintas by 221.1% during the 1st quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after buying an additional 42 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Cintas in the first quarter worth $36,000. Clearstead Advisors LLC acquired a new stake in shares of Cintas in the third quarter worth $39,000. Harbour Investments Inc. increased its holdings in Cintas by 315.0% in the 4th quarter. Harbour Investments Inc. now owns 83 shares of the business services provider’s stock valued at $50,000 after buying an additional 63 shares during the period. Finally, O Dell Group LLC bought a new stake in Cintas in the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

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.