Cintas (CTAS) Set to Announce Earnings on Tuesday

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

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

Cintas Trading Down 0.1 %

CTAS opened at $514.73 on Tuesday. The firm has a market capitalization of $52.72 billion, a P/E ratio of 39.66, a P/E/G ratio of 3.05 and a beta of 1.31. The firm's 50 day moving average is $499.02 and its 200-day moving average is $476.00. Cintas has a 52-week low of $370.93 and a 52-week high of $524.76. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.64.

Cintas Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th were paid a dividend of $1.35 per share. The ex-dividend date was Monday, August 14th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from Cintas's previous quarterly dividend of $1.15. Cintas's dividend payout ratio (DPR) is currently 41.60%.

Insiders Place Their Bets

In other Cintas news, Director Gerald S. Adolph sold 2,686 shares of the business's stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $496.25, for a total transaction of $1,332,927.50. Following the sale, the director now owns 30,066 shares in the company, valued at approximately $14,920,252.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Cintas news, CAO Michael Lawrence Thompson sold 5,050 shares of the business's stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $498.35, for a total transaction of $2,516,667.50. Following the sale, the chief accounting officer now owns 27,326 shares in the company, valued at approximately $13,617,912.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gerald S. Adolph sold 2,686 shares of the business's stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $496.25, for a total value of $1,332,927.50. Following the sale, the director now owns 30,066 shares in the company, valued at approximately $14,920,252.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,820 shares of company stock worth $4,926,731. 15.10% of the stock is owned by corporate insiders.

Institutional Trading of Cintas

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

Wall Street Analyst Weigh In

CTAS has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cintas from $524.00 to $542.00 in a research note on Monday, July 10th. Stifel Nicolaus lifted their price target on shares of Cintas from $512.00 to $521.00 in a research note on Friday, July 14th. Argus lifted their price target on shares of Cintas from $510.00 to $540.00 in a research note on Friday, July 14th. Bank of America upgraded shares of Cintas from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $523.00 to $580.00 in a research note on Tuesday, September 12th. Finally, UBS Group lifted their price objective on shares of Cintas from $550.00 to $575.00 in a report on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cintas has a consensus rating of "Moderate Buy" and a consensus price target of $528.07.

About Cintas

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.

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