Cintas Co. (NASDAQ:CTAS) announced an annual dividend on Tuesday, October 30th, NASDAQ reports. Shareholders of record on Friday, November 9th will be paid a dividend of 2.05 per share by the business services provider on Friday, December 7th. This represents a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 8th. This is an increase from Cintas’s previous annual dividend of $1.62.
Cintas has increased its dividend payment by an average of 24.0% annually over the last three years and has raised its dividend every year for the last 35 years. Cintas has a payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cintas to earn $8.14 per share next year, which means the company should continue to be able to cover its $2.05 annual dividend with an expected future payout ratio of 25.2%.
Shares of NASDAQ:CTAS opened at $179.63 on Friday. Cintas has a 52 week low of $144.40 and a 52 week high of $217.34. The company has a market capitalization of $19.44 billion, a price-to-earnings ratio of 28.51, a PEG ratio of 2.09 and a beta of 1.02. The company has a current ratio of 3.10, a quick ratio of 2.65 and a debt-to-equity ratio of 0.76.
Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.80 by $0.13. Cintas had a net margin of 12.72% and a return on equity of 24.13%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned $1.45 earnings per share. Cintas’s revenue was up 5.4% compared to the same quarter last year. Sell-side analysts predict that Cintas will post 7.24 EPS for the current year.
Several equities research analysts have commented on the stock. Robert W. Baird set a $235.00 price target on shares of Cintas and gave the company a “buy” rating in a research note on Tuesday. Barclays raised their price target on shares of Cintas from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 20th. Stifel Nicolaus raised their price target on shares of Cintas from $162.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, July 20th. BidaskClub lowered shares of Cintas from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 19th. Finally, Nomura restated a “hold” rating and issued a $188.00 price target on shares of Cintas in a research note on Sunday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Cintas presently has an average rating of “Buy” and an average price target of $196.33.
Cintas Company Profile
Cintas Corporation provides corporate identity uniforms and related business services primarily in North America, Latin America, Europe, and Asia. It operates through Uniform Rental and Facility Services and First Aid and Safety Services 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, and carpet and tile cleaning services, as well as sells uniforms directly.
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