Cintas Co. (NASDAQ:CTAS – Get Free Report) announced a quarterly dividend on Tuesday, October 29th, RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.39 per share by the business services provider on Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.75%.
Cintas has raised its dividend by an average of 92.6% per year over the last three years and has raised its dividend every year for the last 42 years. Cintas has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cintas to earn $4.62 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 33.8%.
Cintas Stock Down 0.6 %
NASDAQ:CTAS opened at $207.85 on Thursday. The company has a market cap of $21.09 billion, a PE ratio of 14.35, a P/E/G ratio of 4.12 and a beta of 1.32. Cintas has a twelve month low of $125.62 and a twelve month high of $215.37. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $217.38 and its two-hundred day moving average is $191.29.
Cintas announced that its board has approved a stock repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
CTAS has been the topic of several recent research reports. Barclays upped their price objective on shares of Cintas from $210.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, September 27th. The Goldman Sachs Group increased their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada increased their price target on shares of Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Robert W. Baird increased their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cintas presently has a consensus rating of “Hold” and a consensus price target of $199.63.
View Our Latest Stock Analysis on CTAS
Cintas Company Profile
Cintas Corporation engages in the provision of 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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