Cintas (NASDAQ:CTAS) Releases FY24 Earnings Guidance

Cintas (NASDAQ:CTAS) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $14.80-15.00 for the period, compared to the consensus EPS estimate of $14.59. The company issued revenue guidance of $9.57-9.60 billion, compared to the consensus revenue estimate of $9.56 billion.

Cintas Trading Down 0.4 %

NASDAQ CTAS opened at $633.40 on Wednesday. The company has a market cap of $64.21 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 3.68 and a beta of 1.27. Cintas has a twelve month low of $436.54 and a twelve month high of $644.96. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $618.16 and its 200 day moving average is $565.73.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 36.78% and a net margin of 15.57%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the firm posted $3.14 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that Cintas will post 14.57 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 39.19%.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of Cintas from a buy rating to a hold rating and lifted their price target for the stock from $551.00 to $590.00 in a report on Friday, December 8th. Royal Bank of Canada increased their price target on Cintas from $525.00 to $645.00 and gave the company an outperform rating in a research note on Friday, December 22nd. JPMorgan Chase & Co. lifted their price objective on Cintas from $540.00 to $640.00 and gave the stock an overweight rating in a research note on Friday, December 22nd. Stifel Nicolaus increased their target price on shares of Cintas from $526.00 to $585.00 and gave the company a hold rating in a research report on Friday, December 22nd. Finally, Truist Financial boosted their price target on shares of Cintas from $645.00 to $660.00 and gave the stock a buy rating in a research report on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $571.29.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTAS. Icon Wealth Advisors LLC bought a new position in Cintas in the 4th quarter valued at about $143,000. Covestor Ltd boosted its position in shares of Cintas by 84.7% during the first quarter. Covestor Ltd now owns 327 shares of the business services provider’s stock valued at $139,000 after buying an additional 150 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in Cintas during the fourth quarter worth $117,000. Resurgent Financial Advisors LLC purchased a new stake in Cintas in the 4th quarter valued at $116,000. Finally, Coppell Advisory Solutions LLC bought a new position in Cintas during the 2nd quarter valued at $109,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

About Cintas

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.