Cintas Co. (NASDAQ:CTAS) Forecasted to Post FY2024 Earnings of $14.92 Per Share

Cintas Co. (NASDAQ:CTAS) – Equities researchers at William Blair upped their FY2024 EPS estimates for Cintas in a research note issued to investors on Thursday, March 28th. William Blair analyst T. Mulrooney now forecasts that the business services provider will earn $14.92 per share for the year, up from their prior estimate of $14.54. The consensus estimate for Cintas’ current full-year earnings is $15.05 per share. William Blair also issued estimates for Cintas’ Q4 2024 earnings at $3.76 EPS, Q1 2025 earnings at $3.85 EPS, Q2 2025 earnings at $4.08 EPS, Q3 2025 earnings at $4.23 EPS, Q4 2025 earnings at $4.05 EPS, FY2025 earnings at $16.21 EPS and FY2026 earnings at $17.66 EPS.

A number of other equities research analysts have also recently issued reports on CTAS. Bank of America upped their price objective on shares of Cintas from $700.00 to $790.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price target on shares of Cintas from $526.00 to $585.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. Barclays increased 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. StockNews.com raised shares of Cintas from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Cintas from $629.00 to $726.00 and gave the stock a “hold” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $649.60.

Cintas Trading Up 0.2 %

NASDAQ CTAS opened at $687.03 on Friday. The company has a market capitalization of $69.64 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 3.85 and a beta of 1.27. Cintas has a 1-year low of $438.59 and a 1-year high of $704.84. The firm’s fifty day simple moving average is $620.99 and its 200-day simple moving average is $567.53. The company has a current ratio of 2.38, a quick ratio of 1.89 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share for the quarter, topping 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 business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the business posted $3.14 earnings per share. Cintas’s revenue for the quarter was up 9.9% compared to the same quarter last year.

Cintas Announces Dividend

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

Institutional Trading of Cintas

Several hedge funds have recently modified their holdings of CTAS. Quarry LP grew its stake in shares of Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 42 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in Cintas by 113.0% in the fourth quarter. Janiczek Wealth Management LLC now owns 49 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 26 shares during the last quarter. Sunbelt Securities Inc. bought a new position in Cintas in the first quarter valued at approximately $36,000. Catalyst Capital Advisors LLC boosted its stake in Cintas by 33.9% in the third quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 19 shares during the last quarter. Finally, Clearstead Advisors LLC bought a new position in Cintas in the third quarter valued at approximately $39,000. 63.46% of the stock is owned by institutional investors.

About Cintas

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.