Cintas Co. Plans Quarterly Dividend of $0.39 (NASDAQ:CTAS)

Cintas Co. (NASDAQ:CTAS - Get Free Report) announced a quarterly dividend on Tuesday, January 14th,RTT News reports. Shareholders of record on Friday, February 14th will be paid 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 yield of 0.81%.

Cintas has increased its dividend payment by an average of 19.6% annually over the last three years and has increased its dividend annually for the last 42 consecutive years. Cintas has a dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. 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 0.9 %

Shares of CTAS traded up $1.68 during midday trading on Tuesday, reaching $192.28. 1,585,250 shares of the stock were exchanged, compared to its average volume of 2,347,279. 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 company's 50 day moving average is $206.61 and its two-hundred day moving average is $204.87. The company has a market capitalization of $77.55 billion, a P/E ratio of 48.56, a PEG ratio of 4.16 and a beta of 1.33. Cintas has a 52 week low of $146.29 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its earnings results on Thursday, December 19th. The business services provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the firm posted $3.61 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Cintas will post 4.23 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on CTAS shares. Truist Financial dropped their target price on Cintas from $225.00 to $215.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group dropped their price objective on Cintas from $730.00 to $200.00 and set a "hold" rating on the stock in a research report on Thursday, September 26th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $215.00 target price on shares of Cintas in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a report on Friday, December 20th. Finally, UBS Group reduced their price objective on shares of Cintas from $240.00 to $218.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Cintas currently has an average rating of "Hold" and a consensus target price of $198.46.

Cintas Company Profile

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.