Cintas Corporation (NASDAQ:CTAS) Shareholders to Receive $0.52 Quarterly Dividend

Cintas Corporation (NASDAQ:CTAS) declared a quarterly dividend on Tuesday, October 27th. Investors of record on Friday, November 13th will be paid a dividend of $0.52 per share by the business services provider on Tuesday, December 15th. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th.

Cintas has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 42 years. Cintas has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cintas to earn $6.14 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 33.9%.

Cintas Trading Down 4.9%

NASDAQ:CTAS opened at $214.80 on Wednesday. The firm has a market cap of $85.29 billion, a price-to-earnings ratio of 42.37 and a beta of 0.92. The company’s 50-day moving average is $203.56 and its two-hundred day moving average is $190.13. Cintas has a 12-month low of $161.16 and a 12-month high of $226.68.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, September 23rd. The business services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, equities research analysts forecast that Cintas will post 5.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on CTAS. Robert W. Baird set a $222.00 price target on Cintas and gave the company an “outperform” rating in a report on Thursday, September 24th. Jefferies Financial Group raised their price objective on Cintas from $200.00 to $210.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Argus lifted their price objective on Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Truist Financial upped their target price on Cintas from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 24th. Finally, Weiss Ratings downgraded Cintas from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.50.

About Cintas

Cintas Corporation provides workplace products and services to businesses and other organizations, primarily in the United States and Canada. The company is best known for designing, supplying, laundering and maintaining uniforms, workwear and related apparel for employees across a range of industries.

Its offerings also include facility services such as entrance mats, restroom supplies, hygiene products, janitorial supplies and document management. Through its first aid and safety business, Cintas provides first-aid products, safety training and related workplace solutions.