$1.59 Billion in Sales Expected for Cintas Corporation (CTAS) This Quarter
Equities research analysts expect Cintas Corporation (NASDAQ:CTAS) to report sales of $1.59 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Cintas Corporation’s earnings. The lowest sales estimate is $1.58 billion and the highest is $1.60 billion. Cintas Corporation reported sales of $1.30 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.3%. The company is scheduled to announce its next quarterly earnings report on Thursday, December 28th.
According to Zacks, analysts expect that Cintas Corporation will report full-year sales of $1.59 billion for the current year, with estimates ranging from $6.36 billion to $6.40 billion. For the next year, analysts expect that the business will report sales of $6.72 billion per share, with estimates ranging from $6.63 billion to $6.76 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Cintas Corporation.
Cintas Corporation (NASDAQ:CTAS) last announced its earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.18. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm posted $1.26 EPS. The business’s revenue was up 27.2% on a year-over-year basis.
Several research analysts recently issued reports on CTAS shares. Deutsche Bank AG reissued a “hold” rating and set a $140.00 price target (up from $130.00) on shares of Cintas Corporation in a report on Wednesday, September 27th. Zacks Investment Research raised Cintas Corporation from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Thursday, August 24th. Robert W. Baird set a $152.00 price objective on Cintas Corporation and gave the company a “buy” rating in a report on Thursday, August 24th. Instinet cut Cintas Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $130.00 in a research report on Tuesday, June 27th. Finally, Stifel Nicolaus boosted their target price on Cintas Corporation from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $141.33.
Shares of Cintas Corporation (CTAS) opened at 147.38 on Wednesday. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $147.44. The firm has a market cap of $15.65 billion, a PE ratio of 28.89 and a beta of 0.86. The company has a 50-day moving average of $135.84 and a 200-day moving average of $128.84.
In related news, CFO J. Michael Hansen sold 800 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $130.75, for a total value of $104,600.00. Following the completion of the transaction, the chief financial officer now directly owns 54,370 shares of the company’s stock, valued at approximately $7,108,877.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald S. Adolph sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the completion of the transaction, the director now directly owns 13,135 shares of the company’s stock, valued at $1,756,018.15. The disclosure for this sale can be found here. 18.90% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of CTAS. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Cintas Corporation by 35.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 266,155 shares of the business services provider’s stock valued at $33,546,000 after purchasing an additional 69,483 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Cintas Corporation by 3.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 270,485 shares of the business services provider’s stock valued at $34,092,000 after buying an additional 9,351 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Cintas Corporation by 27.5% in the first quarter. Fifth Third Bancorp now owns 81,484 shares of the business services provider’s stock valued at $10,311,000 after buying an additional 17,567 shares in the last quarter. Banque Pictet & Cie SA purchased a new position in shares of Cintas Corporation in the second quarter valued at $8,073,000. Finally, Caldera Capital LLC increased its position in shares of Cintas Corporation by 32.5% in the second quarter. Caldera Capital LLC now owns 8,149 shares of the business services provider’s stock valued at $1,027,000 after buying an additional 1,999 shares in the last quarter. 64.76% of the stock is owned by hedge funds and other institutional investors.
Cintas Corporation Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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