Vestis Co. (VSTS) to Issue Quarterly Dividend of $0.04 on March 18th

Vestis Co. (NYSE:VSTS) announced a quarterly dividend on Friday, January 31st,RTT News reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.035 per share on Tuesday, March 18th. This represents a $0.14 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, February 21st.

Vestis has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Vestis to earn $0.83 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 16.9%.

Vestis Stock Down 12.3 %

Vestis stock opened at $13.89 on Friday. The business has a fifty day moving average of $16.01 and a two-hundred day moving average of $14.71. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The firm has a market cap of $1.83 billion, a P/E ratio of 86.83 and a beta of 1.17. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 9.07% and a net margin of 0.75%. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, analysts forecast that Vestis will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VSTS. The Goldman Sachs Group upped their price target on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays upped their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Vestis currently has an average rating of “Hold” and an average price target of $14.08.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.