Cintas Co. (NASDAQ:CTAS) announced an annual dividend on Tuesday, October 29th, Fidelity reports. Investors of record on Friday, November 8th will be paid a dividend of 2.55 per share by the business services provider on Friday, December 6th. The ex-dividend date of this dividend is Thursday, November 7th.
Cintas stock traded down $3.19 during trading hours on Tuesday, reaching $266.53. 10,934 shares of the company were exchanged, compared to its average volume of 418,157. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 3.02 and a beta of 0.99. The company has a current ratio of 2.04, a quick ratio of 1.74 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $264.32 and a 200 day moving average of $246.65. Cintas has a 12 month low of $155.98 and a 12 month high of $277.85.
Cintas (NASDAQ:CTAS) last announced its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.17. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Cintas had a return on equity of 28.61% and a net margin of 13.18%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 earnings per share. As a group, research analysts forecast that Cintas will post 8.57 EPS for the current year.
Several research firms have recently weighed in on CTAS. ValuEngine cut Cintas from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their target price on Cintas from $217.00 to $223.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Stifel Nicolaus increased their price objective on Cintas from $226.00 to $256.00 and gave the stock a “hold” rating in a research note on Wednesday, September 25th. Barclays set a $295.00 price objective on Cintas and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Nomura increased their price objective on Cintas from $217.00 to $248.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $262.40.
Cintas announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 29th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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