Cintas Corporation (NASDAQ:CTAS) declared an annual dividend on Wednesday, October 18th, Wall Street Journal reports. Investors of record on Friday, November 10th will be given a dividend of 1.62 per share by the business services provider on Friday, December 8th. This represents a yield of 1.07%. The ex-dividend date is Thursday, November 9th. This is an increase from Cintas Corporation’s previous annual dividend of $1.33.
Cintas Corporation has increased its dividend by an average of 20.0% per year over the last three years and has increased its dividend annually for the last 34 consecutive years. Cintas Corporation has a dividend payout ratio of 30.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas Corporation to earn $6.10 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 26.6%.
Cintas Corporation (NASDAQ:CTAS) opened at 151.56 on Friday. The firm has a market cap of $16.11 billion, a P/E ratio of 29.71 and a beta of 0.86. The company has a 50-day moving average price of $143.27 and a 200-day moving average price of $131.75. Cintas Corporation has a 1-year low of $102.07 and a 1-year high of $152.83.
Cintas Corporation (NASDAQ:CTAS) last released its quarterly earnings results on Tuesday, September 26th. The business services provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.18. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. Cintas Corporation had a return on equity of 23.71% and a net margin of 9.79%. Cintas Corporation’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, equities research analysts forecast that Cintas Corporation will post $5.36 EPS for the current fiscal year.
In other Cintas Corporation news, CFO J. Michael Hansen sold 800 shares of Cintas Corporation stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $130.75, for a total transaction of $104,600.00. Following the completion of the transaction, the chief financial officer now owns 54,370 shares in the company, valued at approximately $7,108,877.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald S. Adolph sold 2,000 shares of Cintas Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $133.69, for a total value of $267,380.00. Following the transaction, the director now owns 13,135 shares of the company’s stock, valued at approximately $1,756,018.15. The disclosure for this sale can be found here. 18.90% of the stock is owned by company insiders.
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A number of equities analysts recently commented on the company. Deutsche Bank AG reissued a “hold” rating and set a $140.00 price target (up from $130.00) on shares of Cintas Corporation in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Cintas Corporation from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Thursday, August 24th. Robert W. Baird set a $152.00 price objective on Cintas Corporation and gave the company a “buy” rating in a research report on Thursday, August 24th. Stifel Nicolaus upped their price objective on Cintas Corporation from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub downgraded Cintas Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $143.00.
Cintas Corporation Company Profile
Cintas Corporation is a provider of corporate identity uniforms through rental and sales programs, as well as a provider of related business services, including entrance mats, restroom cleaning services and supplies, carpet and tile cleaning services, first aid and safety services and fire protection products and services.
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