Cintas (NASDAQ:CTAS) Issues FY24 Earnings Guidance

Cintas (NASDAQ:CTAS) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $14.80-15.00 for the period, compared to the consensus EPS estimate of $14.59. The company issued revenue guidance of $9.57-9.60 billion, compared to the consensus revenue estimate of $9.56 billion. Cintas also updated its FY 2024 guidance to 14.800-15.000 EPS.

Cintas Price Performance

Shares of CTAS stock opened at $687.03 on Friday. The stock’s fifty day moving average is $622.88 and its 200-day moving average is $568.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.89 and a current ratio of 2.38. The stock has a market capitalization of $69.64 billion, a PE ratio of 47.45, a PEG ratio of 3.85 and a beta of 1.27. Cintas has a 52 week low of $438.59 and a 52 week high of $704.84.

Cintas (NASDAQ:CTAS) last announced its earnings results on Wednesday, March 27th. The business services provider reported $3.84 EPS for the quarter, topping the consensus estimate of $3.58 by $0.26. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Cintas had a return on equity of 37.19% and a net margin of 15.98%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.14 earnings per share. Equities research analysts expect that Cintas will post 15.05 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Wednesday, February 14th. Cintas’s dividend payout ratio (DPR) is presently 37.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Cintas from $673.00 to $765.00 and gave the company a buy rating in a research note on Thursday. UBS Group upped their price target on Cintas from $680.00 to $790.00 and gave the company a buy rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on Cintas from $540.00 to $640.00 and gave the company an overweight rating in a research note on Friday, December 22nd. Bank of America increased their target price on Cintas from $700.00 to $790.00 and gave the company a buy rating in a research note on Thursday. Finally, Stifel Nicolaus increased their target price on Cintas from $526.00 to $585.00 and gave the company a hold rating in a research note on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $649.60.

Institutional Trading of Cintas

A number of hedge funds have recently made changes to their positions in CTAS. RMB Capital Management LLC lifted its holdings in Cintas by 2.9% during the 4th quarter. RMB Capital Management LLC now owns 680 shares of the business services provider’s stock worth $410,000 after purchasing an additional 19 shares during the last quarter. Stokes Family Office LLC lifted its holdings in Cintas by 0.4% during the 4th quarter. Stokes Family Office LLC now owns 6,897 shares of the business services provider’s stock worth $3,115,000 after purchasing an additional 25 shares during the last quarter. SVB Wealth LLC lifted its holdings in Cintas by 1.2% during the 2nd quarter. SVB Wealth LLC now owns 2,157 shares of the business services provider’s stock worth $806,000 after purchasing an additional 26 shares during the last quarter. Buckingham Strategic Wealth LLC lifted its holdings in Cintas by 1.5% during the 4th quarter. Buckingham Strategic Wealth LLC now owns 1,847 shares of the business services provider’s stock worth $1,113,000 after purchasing an additional 27 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Cintas by 2.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,176 shares of the business services provider’s stock worth $566,000 after purchasing an additional 30 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

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.