Cintas Corp. (NASDAQ: CTAS) published its financial results for the fiscal third quarter on Wednesday that topped analysts’ estimates for earnings and revenue.
Cintas Corp opened at £250.51 per share in the stock market on Wednesday. It had started the year 2021 at a slightly lower £247.19 per share. Learn more about the different types of stock investments.
Cintas performed fairly upbeat in the stock market last year, with an annual gain of roughly 30%. At the time of writing, it is valued at £26.25 billion and has a price to earnings ratio of 39.07.
Cintas Q3 financial results versus analysts’ estimates
Cintas Corp said that its net income in the third quarter printed at £185.90 million that translates to £1.71 per share. In the comparable quarter of last year, its net income stood at a lower £168.71 million or £1.55 per share.
In separate news on Wednesday, Chinese technology giant Baidu said it expects to raise £2.23 billion from its secondary listing in Hong Kong.
Cintas Corp valued its revenue in Q3 at £1.28 billion versus the year-ago figure of £1.30 billion. Experts, on the other hand, had called for a marginally lower £1.27 billion of revenue in the recent quarter. Their estimate for per-share earnings was capped at a lower £1.59.
The American company said that its gross margin in Q3 stood at 45.6%, compared to a lower 45.5% last year. Cintas repurchased £58.99 million of its common stock in the third quarter. Earlier this week, it paid a quarterly dividend of £57.19 million to its shareholders.
Cintas Corp’s guidance for the fiscal fourth quarter
For the fiscal fourth quarter, Cintas Corp now
