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

Vestis Co. (NYSE:VSTS) declared a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.035 per share on Monday, January 6th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th.

Vestis has a payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Vestis to earn $0.92 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 15.2%.

Vestis Stock Up 2.6 %

Vestis stock opened at $16.02 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.02 and a current ratio of 1.73. The firm has a 50 day moving average price of $14.58 and a 200 day moving average price of $13.26. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a market capitalization of $2.11 billion and a PE ratio of 100.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VSTS. Barclays raised their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Vestis currently has a consensus rating of “Hold” and an average target price of $17.43.

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.