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

Vestis Co. (NYSE:VSTS) declared 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 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, February 21st.

Vestis has a payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Vestis to earn $0.89 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 15.7%.

Vestis Stock Performance

VSTS opened at $13.55 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm has a market cap of $1.78 billion, a PE ratio of 169.33 and a beta of 1.16. The business has a fifty day simple moving average of $15.45 and a 200-day simple moving average of $14.82. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $20.07.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same period last year, the business posted $0.22 earnings per share. As a group, equities analysts predict that Vestis will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on VSTS. Barclays upped their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group increased their target price on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Vestis presently has an average rating of “Hold” and an average price target of $14.08.

About Vestis

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.