Cintas (NASDAQ:CTAS) Releases 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CTAS. Stifel Nicolaus lifted their price objective on shares of Cintas from $526.00 to $585.00 and gave the company a hold rating in a report on Friday, December 22nd. Barclays raised their price objective on Cintas from $630.00 to $700.00 and gave the stock an overweight rating in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a research report on Friday, December 22nd. Royal Bank of Canada lifted their price objective on Cintas from $525.00 to $645.00 and gave the company an outperform rating in a report on Friday, December 22nd. Finally, Truist Financial boosted their price target on shares of Cintas from $645.00 to $660.00 and gave the company a buy rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $571.29.

Cintas Stock Up 8.2 %

Shares of CTAS opened at $685.64 on Thursday. Cintas has a 52 week low of $436.54 and a 52 week high of $704.84. The company has a market capitalization of $69.50 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 3.67 and a beta of 1.27. The stock’s 50-day moving average price is $619.05 and its 200-day moving average price is $566.70. 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 (NASDAQ:CTAS) last posted its 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. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.14 EPS. On average, sell-side analysts predict that Cintas will post 14.57 EPS for the current year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were paid a dividend of $1.35 per share. The ex-dividend date was Wednesday, February 14th. This represents a $5.40 annualized dividend and a yield of 0.79%. Cintas’s dividend payout ratio (DPR) is currently 39.19%.

Institutional Trading of Cintas

Large investors have recently made changes to their positions in the company. Quarry LP boosted its stake in Cintas by 221.1% during the 1st quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after purchasing an additional 42 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Cintas during the 1st quarter valued at about $36,000. Clearstead Advisors LLC acquired a new stake in Cintas in the 3rd quarter valued at about $39,000. Harbour Investments Inc. lifted its stake in Cintas by 315.0% in the 4th 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 hedge funds and other 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.