Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, September 29, 2023

Article Excerpt

CINTAS CORP., $481.01, 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, regain full operations. The company is also selling more services to its existing clients. In its fiscal 2024 first quarter, ended August 31, 2023, revenue rose 8.1%, to $2.34 billion from $2.17 billion a year earlier. That matched the consensus forecast. The company’s earnings in the quarter gained 9.1%, to $3.70 a share (or a total of $385.1 million) from $3.39 a share (or $351.7 million). That topped the consensus estimate of $3.68 a share. Cintas now expects to earn between $14.00 and $14.45 a share for all of fiscal 2024. That’s up from its previous forecast of $13.85 to $14.35 a share. The stock, which has gained 23% in the past year, trades at…