Cintas Co. (CTAS) Increases Dividend to $2.05 Per Share

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Cintas Co. (NASDAQ:CTAS) declared an annual dividend on Tuesday, October 30th, NASDAQ reports. Shareholders of record on Friday, November 9th will be given 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 a boost from Cintas’s previous annual dividend of $1.62.

Cintas has raised its dividend payment by an average of 24.0% per year over the last three years and has increased its dividend every year for the last 35 years. Cintas has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research 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%.

NASDAQ:CTAS opened at $177.41 on Wednesday. Cintas has a one year low of $144.40 and a one year high of $217.34. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.65 and a current ratio of 3.10.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Tuesday, September 25th. The business services provider reported $1.93 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that Cintas will post 7.24 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on CTAS. Bank of America began coverage on shares of Cintas in a research report on Tuesday, October 23rd. They issued a “neutral” rating and a $200.00 target price for the company. Robert W. Baird reissued a “buy” rating and issued a $215.00 target price on shares of Cintas in a research report on Friday, July 20th. Credit Suisse Group began coverage on shares of Cintas in a research report on Friday, August 10th. They issued a “neutral” rating and a $205.00 target price for the company. Nomura reissued a “hold” rating and issued a $188.00 target price on shares of Cintas in a research report on Sunday, July 22nd. Finally, Barclays boosted their target price on shares of Cintas from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $196.33.

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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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Dividend History for Cintas (NASDAQ:CTAS)

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