Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, March 31, 2023

Article Excerpt

CINTAS CORP., $462.68, Nasdaq symbol CTAS, remains a buy for aggressive investors. The company designs and makes uniforms, then sells them to businesses, mainly in North America. It also offers related products and services such as office-cleaning and first-aid kits. Cintas continues to benefit as more businesses, particularly airlines and hotels, re-open. The company is also selling more services to its existing clients. In its fiscal 2023 third quarter, ended February 28, 2023, Cintas’s revenue rose 11.7%, to $2.19 billion from $1.96 billion a year earlier. That beat the consensus forecast of $2.15 billion. If you factor out acquisitions and exchange rates, revenue improved 11.8%. The company’s overall earnings in the quarter gained 3.3%, to $325.8 million from $315.4 million. Due to fewer shares outstanding, per-share earnings rose 5.7%, to $3.14 a share from $2.97. That also beat the consensus estimate of $3.03 a share. If you exclude a one-time gain in the year-earlier quarter, earnings per share gained 16.7% in the latest quarter. Cintas now…