Vestis Co. (NYSE:VSTS) Plans $0.04 Quarterly Dividend

Vestis Co. (NYSE:VSTS) announced a quarterly dividend on Friday, January 31st,RTT News reports. Stockholders of record on Friday, February 21st will be paid a dividend of 0.035 per share on Tuesday, March 18th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.89%.

Vestis has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.9 %

Shares of VSTS opened at $15.82 on Friday. The company has a market capitalization of $2.08 billion, a PE ratio of 98.85 and a beta of 1.17. 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 stock has a fifty day simple moving average of $16.05 and a two-hundred day simple moving average of $14.68. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 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%. As a group, equities analysts forecast that Vestis will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VSTS. The Goldman Sachs Group raised their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised 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. Finally, Barclays upped their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, 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.