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Morning Update: Cintas Corporation’s (NASDAQ: CTAS)

Shares of Cintas Corporation’s (NASDAQ: CTAS) closed the trading at a price of $210.99 with the negative change of -0.19 percent. In the past session approximately 322,036 shares were exchanged against the average daily trading volume of 471,477 shares. The stock market capitalization has now valued at $22.424B. The one year high of the company is $212.59 and the one year low is $130.17.

Cintas Corporation (CTAS) recently stated results for its fiscal 2018 fourth quarter ended May 31, 2018.

Revenue for the fourth quarter of fiscal 2018 was about $1.67B, an raise of 9.1 percent over last year’s fourth quarter. The organic revenue growth rate, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations, was 5.1 percent. As a reminder, we closed on the acquisition of G&K Services, Inc. (G&K) on March 21, 2017, so the organic growth rate no longer adjusts for that acquisition. The organic revenue growth rates for the Uniform Rental and Facility Services and First Aid and Safety Services reportable operating sections were 5.3 percent and 9.4 percent, respectively.

Operating income for the fourth quarter of fiscal 2018 of $265M raised 49.7 percent from last year’s fourth quarter operating income of $177M. Operating income was reduced $15M in the fourth quarter of fiscal 2018 and $63M in the fourth quarter of fiscal 2017 by transaction and integration expenses related to the G&K acquisition.

Net income from continuing operations for the fourth quarter of $189M raised 130.4 percent from last year’s fourth quarter. Earnings per diluted share (EPS) from continuing operations for the fourth quarter of fiscal 2018 were $1.68 contrast to $0.75 for last year’s fourth quarter. Fiscal 2018 and fiscal 2017 fourth quarter EPS included a negative impact of $0.09 and $0.50, respectively, from transaction and integration expenses related to the G&K acquisition. Not Including G&K transaction and integration expenses, adjusted EPS from continuing operations for the fourth quarter were $1.77 contrast to $1.25 for last year’s fourth quarter, an raise of 41.6 percent.

For the fiscal year ended May 31, 2018, revenue was $6.47B, an raise of 21.7 percent over the previous fiscal year. Organic growth was 7.1 percent. Earnings per diluted share from continuing operations for fiscal 2018 were $7.03 contrast to $4.17 for last fiscal year. Fiscal 2018 EPS included a benefit of $1.59 in the third quarter from the enactment of The Tax Cuts and Jobs Act (the Tax Act) but was negatively influenced by $0.24Because of a one-time cash payment to Cintas employees following the enactment of the Tax Act. In addition, fiscal 2018 and fiscal 2017 EPS included a negative impact of $0.26 and $0.60, respectively, from transaction and integration expenses related to the G&K acquisition.

The short ratio in the company’s stock is documented at 7.63 and the short float is around of 3.98 percent. The average true range of the stock is observed at 3.00 and the relative strength index of the stock is recorded at 67.20.

 

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James Moon

Written by James Moon

James Moon:- Business and Services
I am James Moon and I give “News Stories World” an insight into the most recent news hitting the “Business and Services” sector in Wall Street. I have been an independent financial adviser for over 13 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

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