Vestis Co. (NYSE:VSTS) to Issue Quarterly Dividend of $0.04

Vestis Co. (NYSE:VSTS) announced a quarterly dividend on Friday, January 31st,RTT News reports. Stockholders of record on Friday, February 21st will be paid a dividend of 0.035 per share on Tuesday, March 18th. This represents a $0.14 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, February 21st.

Vestis has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Vestis to earn $0.89 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 15.7%.

Vestis Trading Down 1.1 %

NYSE:VSTS opened at $13.55 on Wednesday. The company has a market capitalization of $1.78 billion, a P/E ratio of 169.33 and a beta of 1.16. The stock’s 50 day moving average price is $15.45 and its 200 day moving average price is $14.82. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. Vestis has a 52 week low of $8.92 and a 52 week high of $20.07.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the business posted $0.22 EPS. On average, research analysts forecast that Vestis will post 0.7 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group upped their target price on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and an average target price of $14.08.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.