Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, September 30, 2022

Article Excerpt

CINTAS CORP., $388.19, Nasdaq symbol CTAS, is 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 first quarter, ended August 31, 2022, Cintas’s revenue rose 14.2%, to $2.17 billion from $1.90 billion a year earlier. That beat the consensus forecast of $2.08 billion. The company’s overall earnings in the quarter improved 6.2%, to $351.7 million from $331.2 million. Due to fewer shares outstanding, per-share earnings gained 9.0%, to $3.39 a share from $3.11. That also beat the consensus estimate of $3.13 a share. Cintas now expects to earn between $12.30 and $12.65 a share in fiscal 2023. That’s up from its earlier prediction of $11.90 to $12.30 a share. The stock trades at 31.1…