Cintas (NASDAQ:CTAS) Releases FY 2024 Earnings Guidance

Cintas (NASDAQ:CTAS) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 14.800-15.000 for the period, compared to the consensus estimate of 14.600. The company issued revenue guidance of $9.6 billion-$9.6 billion, compared to the consensus revenue estimate of $9.6 billion. Cintas also updated its FY24 guidance to $14.80-15.00 EPS.

Analyst Upgrades and Downgrades

CTAS has been the topic of a number of research reports. Robert W. Baird boosted their price target on Cintas from $660.00 to $750.00 and gave the company an outperform rating in a report on Thursday. Bank of America boosted their price target on Cintas from $700.00 to $790.00 and gave the company a buy rating in a report on Thursday. JPMorgan Chase & Co. lifted 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. Royal Bank of Canada lifted their target price on Cintas from $675.00 to $725.00 and gave the company an outperform rating in a research report on Thursday. Finally, Stifel Nicolaus lifted their target price on Cintas from $526.00 to $585.00 and gave the company a hold rating in a research report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $649.60.

Cintas Trading Up 0.2 %

Shares of NASDAQ:CTAS opened at $687.03 on Friday. Cintas has a 12-month low of $438.59 and a 12-month high of $704.84. The stock has a market cap of $69.64 billion, a PE ratio of 47.45, a P/E/G ratio of 3.85 and a beta of 1.27. The business has a 50 day moving average of $620.99 and a 200-day moving average of $567.53. The company has a quick ratio of 1.89, a current ratio of 2.38 and a debt-to-equity ratio of 0.58.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 27th. The business services provider reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.26. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.14 earnings per share. As a group, equities research analysts forecast that Cintas will post 15.05 earnings per share for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s dividend payout ratio (DPR) is currently 37.29%.

Institutional Investors Weigh In On Cintas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RMB Capital Management LLC lifted its stake in Cintas by 2.9% during the fourth quarter. RMB Capital Management LLC now owns 680 shares of the business services provider’s stock worth $410,000 after purchasing an additional 19 shares during the last quarter. Stokes Family Office LLC lifted its stake in Cintas by 0.4% during the fourth quarter. Stokes Family Office LLC now owns 6,897 shares of the business services provider’s stock worth $3,115,000 after purchasing an additional 25 shares during the last quarter. SVB Wealth LLC lifted its stake in Cintas by 1.2% during the second quarter. SVB Wealth LLC now owns 2,157 shares of the business services provider’s stock worth $806,000 after purchasing an additional 26 shares during the last quarter. Buckingham Strategic Wealth LLC lifted its stake in Cintas by 1.5% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 1,847 shares of the business services provider’s stock worth $1,113,000 after purchasing an additional 27 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Cintas by 2.6% during the third quarter. Integrated Wealth Concepts LLC now owns 1,176 shares of the business services provider’s stock worth $566,000 after purchasing an additional 30 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors.

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.