Cintas Co. (NASDAQ:CTAS) announced an annual dividend on Tuesday, October 29th, Fidelity reports. Investors of record on Friday, November 8th will be given a dividend of 2.55 per share by the business services provider on Friday, December 6th. The ex-dividend date of this dividend is Thursday, November 7th.
Shares of CTAS stock traded down $3.95 on Tuesday, hitting $265.77. 8,186 shares of the stock traded hands, compared to its average volume of 418,157. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.04 and a quick ratio of 1.74. The company has a market capitalization of $27.83 billion, a PE ratio of 35.05, a PEG ratio of 3.02 and a beta of 0.99. Cintas has a 1-year low of $155.98 and a 1-year high of $277.85. The company’s fifty day moving average is $264.32 and its 200 day moving average is $246.65.
Cintas (NASDAQ:CTAS) last issued its earnings results on Tuesday, September 24th. The business services provider reported $2.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.17. Cintas had a return on equity of 28.61% and a net margin of 13.18%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the company earned $1.93 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, equities research analysts expect that Cintas will post 8.57 EPS for the current year.
Cintas announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 29th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, CAO Michael Lawrence Thompson sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $268.23, for a total transaction of $536,460.00. Following the completion of the sale, the chief accounting officer now directly owns 62,906 shares of the company’s stock, valued at $16,873,276.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 15.90% of the company’s stock.
CTAS has been the subject of several recent analyst reports. ValuEngine cut Cintas from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group increased their price target on Cintas from $195.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Barclays set a $295.00 target price on Cintas and gave the company a “buy” rating in a research note on Friday, September 27th. Zacks Investment Research raised Cintas from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research note on Thursday, September 26th. Finally, Nomura raised their target price on Cintas from $217.00 to $248.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Cintas currently has an average rating of “Hold” and an average price target of $262.40.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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