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Fly News Breaks for December 19, 2017
GK, CTAS
Dec 19, 2017 | 07:49 EDT
KeyBanc analyst Joe Box raised his price target for Cintas (CTAS) to $174 from $148 given the favorable uniform macro that should solidify Cintas organic growth in the mid-single digits, and significant margin upside potential from integrating G&K Services' (GK). The analyst reiterates an Overweight rating on the shares.
News For CTAS;GK From the Last 2 Days
CTAS
Mar 28, 2024 | 09:36 EDT
Truist analyst Jasper Bibb raised the firm's price target on Cintas to $775 from $660 and keeps a Buy rating on the shares. The analyst cites the company's "strong" Q3 results and raised guidance in spice of the unplanned operating margin headwind from a legal settlement. Outsized margin gains at Cintas should be sustainable over the next 2-3 years, with drivers that include digital initiatives, maturation of the First Aid/Fire business, cross-sell opportunities, and moderating expense inflation, the firm tells investors in a research note.
CTAS
Mar 28, 2024 | 07:22 EDT
RBC Capital raised the firm's price target on Cintas to $725 from $675 and keeps an Outperform rating on the shares after its Q3 earnigns beat and guidance raise. The company's gross margins of 220bps significantly surprised to the upside with 34% incremental operating margins driven by solid volume growth, digital, digital transformation including SmartTruck and SAP/Google partnership, and continued operational efficiencies driven by six sigma, engineering, and supply chain teams, the analyst tells investors in a research note. Cintas has also sustained strong teens growth in First-Aid and Fire business, with ample runway, the firm added.
CTAS
Mar 27, 2024 | 16:24 EDT
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CTAS
Mar 27, 2024 | 12:00 EDT
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CTAS
Mar 27, 2024 | 08:45 EDT
Consensus $14.60. Raises FY24 revenue view to $9.56B from $9.48B, consensus $9.56B. Sees FY24 effective tax rate 20.6%. Schneider concluded, "Based on our third quarter results, we are increasing our full fiscal year financial guidance. We are raising our annual revenue expectations from a range of $9.48 billion to $9.56 billion to a range of $9.57 billion to $9.60 billion and our diluted EPS from a range of $14.35 to $14.65 to a range of $14.80 to $15.00."
CTAS
Mar 27, 2024 | 08:41 EDT
Reports Q3 revenue $2.41B, consensus $2.39B. Todd Schneider, Cintas' president and CEO, stated, "Our third quarter results reflect the outstanding dedication and execution of our employees, whom we call partners. Each of our operating segments continue to execute at a high level, which led to robust revenue growth of 9.9%, record high gross margin of 49.4%, record high operating margin of 21.6% and diluted EPS growth of 22.3%."