Vestis Co. (NYSE:VSTS) to Issue $0.04 Quarterly Dividend

Vestis Co. (NYSE:VSTS) announced a quarterly dividend on Friday, January 31st,RTT News reports. Stockholders of record on Friday, February 21st will be paid a dividend of 0.035 per share on Tuesday, March 18th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.89%.

Vestis has a payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Vestis to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 16.9%.

Vestis Stock Performance

Shares of VSTS opened at $15.82 on Friday. The company has a 50-day simple moving average of $16.05 and a two-hundred day simple moving average of $14.68. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. The firm has a market capitalization of $2.08 billion, a PE ratio of 98.85 and a beta of 1.17. Vestis has a one year low of $8.92 and a one year high of $22.37.

Vestis (NYSE:VSTS) last released its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 9.07% and a net margin of 0.75%. On average, analysts anticipate that Vestis will post 0.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on VSTS. JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. The Goldman Sachs Group upped their price target on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.08.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.