Vestis Co. (NYSE:VSTS) Announces Quarterly Dividend of $0.04

Vestis Co. (NYSE:VSTS - Get Free Report) 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 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, February 21st.

Vestis has a dividend 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 Down 1.5 %

VSTS traded down $0.21 on Tuesday, reaching $13.65. The company's stock had a trading volume of 1,859,439 shares, compared to its average volume of 1,416,523. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 170.58 and a beta of 1.17. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.32. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The stock has a 50 day moving average of $16.01 and a two-hundred day moving average of $14.73.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the prior year, the firm earned $0.22 earnings per share. As a group, analysts forecast that Vestis will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

VSTS has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. The Goldman Sachs Group upped their price target on shares of Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Barclays lifted their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.08.

About Vestis

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.