Zacks: Analysts Expect Cintas Co. (NASDAQ:CTAS) to Announce $2.68 EPS

Equities analysts predict that Cintas Co. (NASDAQ:CTASGet Rating) will post earnings per share of $2.68 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cintas’ earnings, with the highest EPS estimate coming in at $2.76 and the lowest estimate coming in at $2.60. Cintas reported earnings of $2.47 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Cintas will report full year earnings of $11.24 per share for the current financial year, with EPS estimates ranging from $11.19 to $11.31. For the next fiscal year, analysts forecast that the company will post earnings of $12.29 per share, with EPS estimates ranging from $11.84 to $12.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Cintas.

Cintas (NASDAQ:CTASGet Rating) last released its quarterly earnings data on Wednesday, March 23rd. The business services provider reported $2.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.53. The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Cintas had a net margin of 15.88% and a return on equity of 34.05%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.37 EPS.

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Cintas from $470.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, December 23rd. Morgan Stanley lowered their target price on shares of Cintas from $416.00 to $389.00 and set an “equal weight” rating on the stock in a report on Thursday, March 24th. Zacks Investment Research upgraded shares of Cintas from a “hold” rating to a “buy” rating and set a $457.00 target price on the stock in a report on Monday, December 27th. Bank of America assumed coverage on shares of Cintas in a report on Friday, March 11th. They issued a “neutral” rating on the stock. Finally, Argus lowered their target price on shares of Cintas from $490.00 to $450.00 in a 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, the stock presently has a consensus rating of “Buy” and an average target price of $451.40.

In other news, CAO Michael Lawrence Thompson sold 12,500 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $423.24, for a total transaction of $5,290,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 28,933 shares of the company’s stock, valued at approximately $12,245,602.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO J. Michael Hansen sold 8,200 shares of the stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $424.23, for a total transaction of $3,478,686.00. The disclosure for this sale can be found here. Company insiders own 14.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTAS. Morgan Stanley boosted its holdings in Cintas by 15.7% in the 2nd quarter. Morgan Stanley now owns 281,174 shares of the business services provider’s stock worth $107,409,000 after buying an additional 38,247 shares during the period. Bank of America Corp DE boosted its holdings in Cintas by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 1,150,459 shares of the business services provider’s stock valued at $439,476,000 after purchasing an additional 129,562 shares during the period. Huntington National Bank boosted its holdings in Cintas by 48.9% in the 3rd quarter. Huntington National Bank now owns 3,205 shares of the business services provider’s stock valued at $1,220,000 after purchasing an additional 1,052 shares during the period. 180 Wealth Advisors LLC bought a new position in Cintas in the 3rd quarter valued at $359,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in Cintas by 20.9% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,606 shares of the business services provider’s stock valued at $5,941,000 after purchasing an additional 2,698 shares during the period. 63.10% of the stock is owned by institutional investors.

Shares of CTAS stock traded down $5.71 on Friday, reaching $413.67. 345,833 shares of the company were exchanged, compared to its average volume of 533,613. The company has a market cap of $42.33 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 3.42 and a beta of 1.53. The company has a 50-day moving average of $394.37 and a 200-day moving average of $410.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.84. Cintas has a one year low of $338.00 and a one year high of $461.44.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $3.80 annualized dividend and a yield of 0.92%. Cintas’s dividend payout ratio (DPR) is 33.60%.

About Cintas (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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Earnings History and Estimates for Cintas (NASDAQ:CTAS)

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