Cintas (NASDAQ:CTAS) Releases FY24 Earnings Guidance

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

Analyst Ratings Changes

Several research firms have recently commented on CTAS. Deutsche Bank Aktiengesellschaft lowered shares of Cintas from a buy rating to a hold rating and boosted their price target for the company from $551.00 to $590.00 in a report on Friday, December 8th. StockNews.com raised shares of Cintas from a hold rating to a buy rating in a research report on Monday. Barclays lifted their price objective on shares of Cintas from $630.00 to $700.00 and gave the stock an overweight rating in a research report on Thursday, February 29th. Royal Bank of Canada lifted their price objective on shares of Cintas from $525.00 to $645.00 and gave the stock an outperform rating in a research report on Friday, December 22nd. Finally, Truist Financial lifted their price objective 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Cintas has an average rating of Moderate Buy and a consensus price target of $571.29.

Cintas Stock Performance

CTAS opened at $685.64 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.24 and a quick ratio of 1.89. The firm has a fifty day moving average price of $619.05 and a 200 day moving average price of $566.70. Cintas has a 1 year low of $436.54 and a 1 year high of $704.84. The stock has a market cap of $69.50 billion, a P/E ratio of 49.76, a P/E/G ratio of 3.67 and a beta of 1.27.

Cintas (NASDAQ:CTAS) last posted its 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. Cintas had a net margin of 15.57% and a return on equity of 36.78%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the previous year, the business posted $3.14 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Cintas will post 14.57 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s dividend payout ratio is presently 39.19%.

Hedge Funds Weigh In On Cintas

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP grew its holdings in shares of Cintas by 221.1% during the first quarter. Quarry LP now owns 61 shares of the business services provider’s stock worth $28,000 after buying an additional 42 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Cintas during the first quarter worth $36,000. Clearstead Advisors LLC purchased a new stake in shares of Cintas during the third quarter worth $39,000. Harbour Investments Inc. grew its holdings in shares of Cintas by 315.0% during the fourth quarter. Harbour Investments Inc. now owns 83 shares of the business services provider’s stock worth $50,000 after buying an additional 63 shares in the last quarter. Finally, O Dell Group LLC purchased a new stake in shares of Cintas in the fourth quarter valued at about $51,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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.