Cintas (CTAS) to Release Quarterly Earnings on Wednesday

Cintas (NASDAQ:CTASGet Rating) will be issuing its quarterly earnings data before the market opens on Wednesday, September 28th. Analysts expect the company to announce earnings of $3.13 per share for the quarter. Cintas has set its FY 2023 guidance at $11.90-$12.30 EPS and its FY23 guidance at $11.90-$12.30 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Cintas (NASDAQ:CTASGet Rating) last posted its earnings results on Thursday, July 14th. The business services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2 billion. Cintas had a net margin of 15.73% and a return on equity of 35.81%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. On average, analysts expect Cintas to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Cintas Stock Down 0.5 %

Shares of NASDAQ CTAS opened at $406.00 on Wednesday. The company has a market capitalization of $41.43 billion, a P/E ratio of 34.85, a price-to-earnings-growth ratio of 3.50 and a beta of 1.44. Cintas has a 52-week low of $343.86 and a 52-week high of $461.44. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.51 and a current ratio of 1.84. The company’s 50 day moving average price is $414.86 and its 200-day moving average price is $398.82.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 15th were given a $1.15 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.13%. This is an increase from Cintas’s previous quarterly dividend of $0.95. Cintas’s payout ratio is 39.49%.

Institutional Trading of Cintas

Hedge funds and other institutional investors have recently bought and sold shares of the business. ExodusPoint Capital Management LP bought a new stake in shares of Cintas in the 2nd quarter worth $231,000. Goldman Sachs Group Inc. grew its stake in shares of Cintas by 51.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 468,412 shares of the business services provider’s stock worth $174,967,000 after acquiring an additional 159,396 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Cintas in the 2nd quarter worth $302,000. SVB Wealth LLC grew its stake in shares of Cintas by 1.2% in the 2nd quarter. SVB Wealth LLC now owns 2,157 shares of the business services provider’s stock worth $806,000 after acquiring an additional 26 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new stake in shares of Cintas in the 2nd quarter worth $486,000. Institutional investors own 76.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Cintas from $500.00 to $435.00 in a research report on Friday, July 15th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Saturday, July 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Cintas from $517.00 to $465.00 and set a “buy” rating on the stock in a research report on Tuesday, July 5th. Robert W. Baird boosted their target price on shares of Cintas from $440.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Finally, Royal Bank of Canada dropped their target price on shares of Cintas from $475.00 to $450.00 in a research report on Friday, July 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $435.89.

Cintas Company Profile

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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 for Cintas (NASDAQ:CTAS)

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