Cintas (NASDAQ:CTAS – Get Rating) updated its fourth quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.540-$2.740 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.630. The company issued revenue guidance of $1.96 billion-$2.02 billion, compared to the consensus revenue estimate of $1.96 billion.
Several brokerages have recently issued reports on CTAS. Zacks Investment Research upgraded Cintas from a hold rating to a buy rating and set a $457.00 price objective on the stock in a research note on Monday, December 27th. Morgan Stanley decreased their price target on shares of Cintas from $416.00 to $389.00 and set an equal weight rating for the company in a research note on Thursday, March 24th. StockNews.com upgraded Cintas from a hold rating to a buy rating in a report on Monday, March 28th. The Goldman Sachs Group upped their price target on Cintas from $460.00 to $493.00 in a report on Wednesday, March 23rd. Finally, Argus dropped their target price on shares of Cintas from $490.00 to $450.00 in a research report on Friday, March 25th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Cintas currently has a consensus rating of Buy and a consensus target price of $451.40.
CTAS traded up $2.24 on Wednesday, hitting $418.01. 2,208 shares of the company traded hands, compared to its average volume of 547,539. Cintas has a 12-month low of $338.00 and a 12-month high of $461.44. The company has a 50 day moving average of $392.37 and a 200-day moving average of $410.60. The company has a quick ratio of 0.84, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $42.77 billion, a PE ratio of 36.76, a PEG ratio of 3.55 and a beta of 1.53.
Cintas (NASDAQ:CTAS – Get Rating) last released its quarterly earnings results on Wednesday, March 23rd. The business services provider reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.53. Cintas had a return on equity of 34.05% and a net margin of 15.88%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the business earned $2.37 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Cintas will post 11.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 0.91%. Cintas’s payout ratio is 33.60%.
In other Cintas news, CFO J. Michael Hansen sold 8,200 shares of the firm’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $424.23, for a total value of $3,478,686.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael Lawrence Thompson sold 12,500 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $423.24, for a total transaction of $5,290,500.00. The disclosure for this sale can be found here. Corporate insiders own 14.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CTAS. Parametric Portfolio Associates LLC grew its holdings in shares of Cintas by 0.7% in the 4th quarter. Parametric Portfolio Associates LLC now owns 338,379 shares of the business services provider’s stock worth $149,959,000 after acquiring an additional 2,229 shares during the period. California State Teachers Retirement System grew its holdings in Cintas by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 161,286 shares of the business services provider’s stock valued at $71,477,000 after purchasing an additional 1,287 shares during the last quarter. Allstate Corp increased its position in shares of Cintas by 295.5% in the fourth quarter. Allstate Corp now owns 7,688 shares of the business services provider’s stock valued at $3,407,000 after buying an additional 5,744 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Cintas by 35.7% during the 4th quarter. Advisors Asset Management Inc. now owns 5,865 shares of the business services provider’s stock worth $2,599,000 after buying an additional 1,544 shares during the last quarter. Finally, Toroso Investments LLC boosted its position in shares of Cintas by 20.1% in the 4th quarter. Toroso Investments LLC now owns 1,629 shares of the business services provider’s stock worth $722,000 after buying an additional 273 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.
Cintas Company Profile (Get Rating)
Cintas Corporation provides 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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