Cintas Corporation (CTAS) to Distribute Quarterly Dividend of $0.52 on September 15th

Cintas Corporation (NASDAQ:CTAS) declared a quarterly dividend on Tuesday, July 28th. Investors of record on Friday, August 14th will be given a dividend of 0.52 per share by the business services provider on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. This is a 15.6% increase from Cintas’s previous quarterly dividend of $0.45.

Cintas has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 42 consecutive years. Cintas has a payout ratio of 33.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas to earn $6.10 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 29.5%.

Cintas Stock Performance

CTAS stock opened at $216.53 on Thursday. The stock’s 50 day simple moving average is $181.79 and its 200 day simple moving average is $183.88. The company has a current ratio of 1.43, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Cintas has a 12-month low of $161.16 and a 12-month high of $226.75. The stock has a market capitalization of $86.63 billion, a PE ratio of 57.90, a price-to-earnings-growth ratio of 3.47 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, July 15th. The business services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. Cintas had a return on equity of 42.05% and a net margin of 17.75%.The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the firm posted $1.09 earnings per share. Cintas’s revenue was up 8.9% compared to the same quarter last year. Cintas has set its FY 2027 guidance at 5.360-5.500 EPS. As a group, research analysts forecast that Cintas will post 5.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on CTAS shares. Bank of America upgraded Cintas from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research report on Thursday, July 16th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $206.00 target price on shares of Cintas in a research report on Thursday, July 16th. Robert W. Baird boosted their price target on Cintas from $200.00 to $214.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Cintas from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Truist Financial reduced their price target on shares of Cintas from $255.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.31.

About Cintas

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.