Cintas (NASDAQ:CTAS) Issues Quarterly Earnings Results

Cintas (NASDAQ:CTAS) issued its earnings results on Wednesday. The business services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.23 by $0.01, Briefing.com reports. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Cintas had a return on equity of 41.07% and a net margin of 17.58%.The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS.

Cintas Price Performance

Shares of NASDAQ:CTAS traded down $1.16 during trading on Wednesday, reaching $176.98. The company had a trading volume of 243,786 shares, compared to its average volume of 2,030,097. The company has a fifty day moving average of $194.42 and a two-hundred day moving average of $192.08. The company has a current ratio of 1.71, a quick ratio of 1.49 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $70.77 billion, a P/E ratio of 52.37, a price-to-earnings-growth ratio of 3.27 and a beta of 0.95. Cintas has a 12 month low of $177.53 and a 12 month high of $229.24.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 13th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas’s dividend payout ratio is presently 52.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTAS. Bank of America began coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price target on the stock. Morgan Stanley decreased their target price on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings upgraded shares of Cintas from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Wells Fargo & Company upgraded shares of Cintas from a “cautious” rating to an “overweight” rating and boosted their price target for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $206.00 price target on shares of Cintas in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $220.25.

Cintas News Roundup

Here are the key news stories impacting Cintas this week:

• Positive Sentiment: Q3 revenue and organic growth beat/printed stronger-than-expected top-line; this supports revenue momentum and was the primary fundamental driver today. Cintas Q3 Results
• Positive Sentiment: High-profile bullish commentary — Jim Cramer highlighted Cintas as attractive to arbitrageurs/buyers, which can lift demand from retail and momentum traders. Cramer: Cintas a Great Buy
• Positive Sentiment: Income strategy pieces point to Cintas’s dividend (?0.99% yield) and option-income ideas that may support buy?and?income oriented flows. Dividend/Income Idea
• Neutral Sentiment: Analyst previews and consensus were mixed going into the print (street estimated roughly $2.82B revenue / $1.24 EPS), so some moves reflect positioning around expectations rather than a clear surprise. Analyst Expectations Ahead of Q3
• Neutral Sentiment: Short-interest reports in recent feeds show anomalous zero/NaN data and a reported 0 days-to-cover — likely a data artifact and not actionable on its own. (data feeds cited)
• Negative Sentiment: Shares hit a new one?year low recently and the stock underperformed peers; that technical weakness increases downside risk and magnifies reactions to any quarter that isn’t clearly upbeat. Reached New 1?Year Low
• Negative Sentiment: Shares had already fallen (about 1.7% the prior session) into the print, so some of today’s weakness reflects pre-earnings profit-taking and cautious positioning. Pre-earnings Pullback

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Swiss RE Ltd. bought a new stake in Cintas during the fourth quarter worth about $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Cintas during the 4th quarter valued at about $26,000. Meeder Asset Management Inc. raised its holdings in shares of Cintas by 226.7% during the 4th quarter. Meeder Asset Management Inc. now owns 147 shares of the business services provider’s stock valued at $28,000 after buying an additional 102 shares in the last quarter. Triumph Capital Management bought a new stake in Cintas in the 3rd quarter worth approximately $29,000. Finally, Prosperity Bancshares Inc bought a new stake in Cintas in the 4th quarter worth approximately $34,000. Institutional investors own 63.46% of the company’s stock.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.