Cintas (NASDAQ:CTAS) Issues Earnings Results, Beats Estimates By $0.13 EPS
Cintas (NASDAQ:CTAS) posted its earnings results on Tuesday. The business services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.13, RTT News reports. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Cintas had a net margin of 12.44% and a return on equity of 25.85%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. Cintas updated its FY 2020 guidance to $8.30-8.45 EPS and its FY20 guidance to $8.30-8.45 EPS.
Shares of CTAS opened at $239.44 on Wednesday. The firm has a market cap of $25.44 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 2.41 and a beta of 0.99. The company has a fifty day moving average of $234.06. Cintas has a fifty-two week low of $155.98 and a fifty-two week high of $244.59. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.89 and a current ratio of 2.24.
Several research firms have issued reports on CTAS. Credit Suisse Group reaffirmed an “outperform” rating and set a $300.00 price objective (down from $320.00) on shares of Domino’s Pizza in a report on Wednesday. JPMorgan Chase & Co. set a $45.00 price target on shares of Ciena and gave the company a “buy” rating in a research note on Friday, March 22nd. William Blair reaffirmed an “outperform” rating on shares of American Software in a research note on Thursday, June 20th. Zacks Investment Research downgraded G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley reduced their price target on shares of Wells Fargo & Co from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $206.55.
Hedge funds have recently made changes to their positions in the business. Capital Financial Planning LLC acquired a new position in Cintas in the 4th quarter worth $29,000. Financial Gravity Wealth Inc. acquired a new stake in Cintas during the first quarter worth about $36,000. CWM LLC raised its stake in Cintas by 52.4% during the first quarter. CWM LLC now owns 192 shares of the business services provider’s stock worth $39,000 after acquiring an additional 66 shares during the period. Washington Trust Bank acquired a new stake in Cintas during the first quarter worth about $45,000. Finally, Resources Investment Advisors Inc. acquired a new stake in Cintas during the first quarter worth about $81,000. 67.05% of the stock is currently owned by hedge funds and other institutional investors.
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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