Cintas (CTAS) Set to Announce Earnings on Tuesday

Cintas (NASDAQ:CTAS) is scheduled to announce its earnings results before the market opens on Tuesday, September 26th. Analysts expect the company to announce earnings of $3.65 per share for the quarter. Cintas has set its FY24 guidance at $13.85-14.35 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 13th. The business services provider reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.14. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.25 billion. Cintas had a return on equity of 38.09% and a net margin of 15.29%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.81 EPS. On average, analysts expect Cintas to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Cintas Stock Performance

NASDAQ:CTAS opened at $514.73 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.98 and a current ratio of 2.39. Cintas has a fifty-two week low of $370.93 and a fifty-two week high of $524.76. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 3.05 and a beta of 1.31. The stock has a fifty day moving average price of $499.02 and a 200-day moving average price of $476.00.

Cintas Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were given a dividend of $1.35 per share. This is an increase from Cintas’s previous quarterly dividend of $1.15. This represents a $5.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Monday, August 14th. Cintas’s dividend payout ratio is currently 41.60%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays increased their target price on Cintas from $500.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, July 14th. JPMorgan Chase & Co. increased their target price on Cintas from $510.00 to $540.00 in a research report on Friday, July 14th. Stifel Nicolaus increased their price target on Cintas from $512.00 to $521.00 in a research note on Friday, July 14th. Wells Fargo & Company increased their price target on Cintas from $470.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, July 14th. Finally, StockNews.com initiated coverage on Cintas in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Cintas currently has an average rating of “Moderate Buy” and an average price target of $528.07.

Insiders Place Their Bets

In other news, CAO Michael Lawrence Thompson sold 5,050 shares of Cintas stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $498.35, for a total value of $2,516,667.50. Following the completion of the transaction, the chief accounting officer now directly owns 27,326 shares in the company, valued at $13,617,912.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Joseph Scaminace sold 2,084 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $516.86, for a total value of $1,077,136.24. Following the completion of the sale, the director now owns 11,001 shares of the company’s stock, valued at approximately $5,685,976.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Michael Lawrence Thompson sold 5,050 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $498.35, for a total value of $2,516,667.50. Following the completion of the sale, the chief accounting officer now directly owns 27,326 shares of the company’s stock, valued at approximately $13,617,912.10. The disclosure for this sale can be found here. Insiders sold 9,820 shares of company stock valued at $4,926,731 over the last ninety days. 15.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CTAS. Norges Bank purchased a new position in shares of Cintas during the 4th quarter worth approximately $379,291,000. Select Equity Group L.P. grew its stake in shares of Cintas by 1,344.1% in the 4th quarter. Select Equity Group L.P. now owns 473,448 shares of the business services provider’s stock worth $213,819,000 after buying an additional 440,662 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cintas by 52.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 850,617 shares of the business services provider’s stock worth $422,825,000 after buying an additional 292,701 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Cintas by 8,140.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 173,039 shares of the business services provider’s stock worth $73,609,000 after buying an additional 170,939 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Cintas by 8.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,419,068 shares of the business services provider’s stock worth $656,575,000 after buying an additional 115,712 shares during the last quarter. Hedge funds and other institutional investors own 62.26% of the company’s stock.

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.