Cintas Corporation Announces Quarterly Dividend of $0.45 (NASDAQ:CTAS)

Cintas Corporation (NASDAQ:CTAS) announced a quarterly dividend on Tuesday, April 14th. Stockholders of record on Friday, May 15th will be given a dividend of 0.45 per share by the business services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, May 15th.

Cintas has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 42 years. Cintas has a dividend payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cintas to earn $4.77 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 37.7%.

Cintas Stock Performance

NASDAQ CTAS opened at $176.14 on Wednesday. The firm has a 50-day moving average of $188.32 and a 200-day moving average of $189.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.74 and a current ratio of 1.98. The stock has a market cap of $70.47 billion, a PE ratio of 49.76, a P/E/G ratio of 3.15 and a beta of 1.01. Cintas has a 52-week low of $165.60 and a 52-week high of $229.24.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. On average, sell-side analysts anticipate that Cintas will post 4.31 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Bank of America assumed coverage on shares of Cintas in a research note on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Cintas from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 17th. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Finally, Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 price objective for the company in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus target price of $215.17.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.