Cintas Co. (NASDAQ:CTAS - Get Free Report) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $193.46, but opened at $204.54. Cintas shares last traded at $211.01, with a volume of 837,499 shares trading hands.
The business services provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.84 EPS.
Cintas Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. Cintas's dividend payout ratio (DPR) is presently 36.11%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $215.00 price objective on shares of Cintas in a report on Thursday. Robert W. Baird increased their price target on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research report on Thursday. Wells Fargo & Company boosted their price target on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday. Truist Financial increased their price objective on Cintas from $215.00 to $230.00 and gave the company a "buy" rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Cintas has a consensus rating of "Hold" and a consensus target price of $210.58.
View Our Latest Analysis on Cintas
Hedge Funds Weigh In On Cintas
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC boosted its holdings in shares of Cintas by 178.3% in the 3rd quarter. Fisher Asset Management LLC now owns 2,460 shares of the business services provider's stock valued at $507,000 after purchasing an additional 1,576 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in shares of Cintas by 295.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,351 shares of the business services provider's stock valued at $7,072,000 after acquiring an additional 25,675 shares during the last quarter. Fiduciary Trust Co grew its holdings in shares of Cintas by 300.0% during the third quarter. Fiduciary Trust Co now owns 6,616 shares of the business services provider's stock worth $1,362,000 after purchasing an additional 4,962 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Cintas by 230.9% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 7,120 shares of the business services provider's stock worth $1,466,000 after acquiring an additional 4,968 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Cintas by 280.4% during the third quarter. Hantz Financial Services Inc. now owns 40,395 shares of the business services provider's stock valued at $8,317,000 after acquiring an additional 29,775 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.
Cintas Stock Performance
The firm has a market capitalization of $82.01 billion, a P/E ratio of 49.00, a price-to-earnings-growth ratio of 3.98 and a beta of 1.41. The company has a 50-day moving average of $201.01 and a 200-day moving average of $208.92. The company has a current ratio of 1.58, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47.
Cintas Company Profile
(
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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.
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