Cintas Co. (NASDAQ:CTAS) Forecasted to Post FY2024 Earnings of $14.92 Per Share

Cintas Co. (NASDAQ:CTAS) – Stock analysts at William Blair lifted their FY2024 earnings per share estimates for Cintas in a research note issued to investors on Thursday, March 28th. William Blair analyst T. Mulrooney now expects that the business services provider will earn $14.92 per share for the year, up from their prior forecast of $14.54. The consensus estimate for Cintas’ current full-year earnings is $15.05 per share. William Blair also issued estimates for Cintas’ Q4 2024 earnings at $3.76 EPS, Q1 2025 earnings at $3.85 EPS, Q2 2025 earnings at $4.08 EPS, Q3 2025 earnings at $4.23 EPS, Q4 2025 earnings at $4.05 EPS, FY2025 earnings at $16.21 EPS and FY2026 earnings at $17.66 EPS.

Several other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cintas from $629.00 to $726.00 and gave the company a “hold” rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on Cintas from $540.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. The Goldman Sachs Group raised their target price on Cintas from $673.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird raised their target price on Cintas from $660.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com upgraded Cintas from a “hold” rating to a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and a consensus price target of $649.60.

Cintas Stock Up 0.2 %

Shares of CTAS opened at $687.03 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.89 and a debt-to-equity ratio of 0.58. Cintas has a 12 month low of $438.59 and a 12 month high of $704.84. The stock’s 50 day moving average is $620.99 and its two-hundred day moving average is $567.53. The firm has a market cap of $69.64 billion, a P/E ratio of 47.45, a PEG ratio of 3.85 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.26. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business earned $3.14 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year.

Hedge Funds Weigh In On Cintas

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTAS. Columbus Macro LLC grew its holdings in shares of Cintas by 1.2% in the 4th quarter. Columbus Macro LLC now owns 1,453 shares of the business services provider’s stock worth $871,000 after acquiring an additional 17 shares during the period. Quent Capital LLC grew its holdings in shares of Cintas by 22.8% in the 4th quarter. Quent Capital LLC now owns 97 shares of the business services provider’s stock worth $59,000 after acquiring an additional 18 shares during the period. Greenleaf Trust grew its holdings in shares of Cintas by 1.0% in the 3rd quarter. Greenleaf Trust now owns 1,899 shares of the business services provider’s stock worth $913,000 after acquiring an additional 19 shares during the period. Catalyst Capital Advisors LLC grew its holdings in shares of Cintas by 33.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 75 shares of the business services provider’s stock worth $36,000 after acquiring an additional 19 shares during the period. Finally, RMB Capital Management LLC grew its holdings in shares of Cintas by 2.9% in the 4th quarter. RMB Capital Management LLC now owns 680 shares of the business services provider’s stock worth $410,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 15th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s payout ratio is 37.29%.

Cintas Company Profile

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.