Cintas soars as a strong labor market prompts it to boost profit forecasts (CTAS)
|07/17/2019||Posted by BusinessMediaguide.Com under General World News||
- Cintas stock rose as much as 9% Wednesday after beating earnings estimates for its fiscal fourth-quarter earnings.
- The Nasdaq component announced improved 2020 guidance, with revenue and earnings per share estimates edging out Wall Street expectations.
- Cintas — which focuses on business services like uniform and workplace supply rental — is likely to profit from the strong labor market.
- June’s US jobs report announced an increase 224,000 nonfarm payrolls, higher than economists’ expected gain of 164,000.
- Watch Cintas trade live here.