Cintas Co. (CTAS) to Issue Quarterly Dividend of $0.39 on March 14th

Cintas Co. (NASDAQ:CTAS) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.39 per share by the business services provider on Friday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, February 14th.

Cintas has raised its dividend payment by an average of 19.6% annually over the last three years and has increased its dividend every year for the last 42 years. Cintas has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cintas to earn $4.64 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 33.6%.

Cintas Stock Up 1.8 %

CTAS stock opened at $195.70 on Thursday. Cintas has a 12 month low of $146.29 and a 12 month high of $228.12. The company has a market cap of $78.97 billion, a price-to-earnings ratio of 49.42, a PEG ratio of 4.16 and a beta of 1.37. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $206.61 and a two-hundred day moving average of $204.87.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.01 by $0.08. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm earned $3.61 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Cintas will post 4.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CTAS shares. Jefferies Financial Group dropped their price target on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Morgan Stanley increased their price objective on Cintas from $185.00 to $202.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, December 20th. Barclays upped their price target on Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, UBS Group reduced their price objective on shares of Cintas from $240.00 to $218.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $198.46.

About Cintas

Cintas Corporation engages in the provision of 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.