Vestis Co. (NYSE:VSTS) Announces Quarterly Dividend of $0.04

Vestis Co. (NYSE:VSTS) declared a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, February 21st will be given a dividend of 0.035 per share on Tuesday, March 18th. This represents a $0.14 dividend on an annualized basis and a yield of 1.01%.

Vestis has a dividend payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Vestis to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 16.9%.

Vestis Price Performance

Shares of NYSE VSTS opened at $13.89 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The stock has a market cap of $1.83 billion, a P/E ratio of 86.83 and a beta of 1.17. The stock has a 50 day moving average of $16.01 and a two-hundred day moving average of $14.70. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.75% and a return on equity of 9.07%. During the same period in the prior year, the business posted $0.22 earnings per share. On average, research analysts forecast that Vestis will post 0.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VSTS. Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. The Goldman Sachs Group lifted their target price on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.08.

About Vestis

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.