Oppenheimer analyst Scott Schneeberger maintained a Hold rating on Cintas Corp (NASDAQ: CTAS) today. The company’s shares closed yesterday at $212.96, close to its 52-week high of $217.34.
Schneeberger wrote:
“F1Q19 adjusted EPS of $1.93 (+30% y/y; $1.89 reported) exceeded our estimate/ consensus of $1.72/$1.81, respectively. F1Q19 revenue of $1.698B (+5.4% y/y; 5.2% organic growth) topped our estimate/consensus of $1.679B/$1.685B, respectively. F1Q19 adjusted operating income of $270M exceeded our estimate/consensus of $256M/$269M, respectively, via revenue outperformance leveraged across well- managed SG&A. With a full quarter of G&K now included, CTAS’ F1Q19 organic growth slowed to mid-single digits from high-single digits in F1Q18. However, organic growth is likely to ramp progressively higher over the balance of the year. FY19 revenue/adjusted EPS guidance were increased on the F1Q19 outperformance and represent mid-single digit/low 20%+ growth y/y, respectively.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 12.0% and a 69.5% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, Landstar System Inc, and General Finance.
Currently, the analyst consensus on Cintas Corp is a Hold with an average price target of $196.
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Based on Cintas Corp’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of $186 million. In comparison, last year the company had a net profit of $156 million.
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Cintas Corp. engages in the provision and supply of corporate identity uniform programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other.
