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Trade the Earnings: Cintas

Taking a look back at the historical post-earnings performance of CTAS

by 9/22/2011 10:15:21 AM
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Posted by MidnightTrader.com

Cintas (CTAS) is due with its first-quarter report in the extended-hours today, and analysts polled by Thomson Reuters expect the company to report a profit of 47 cents per share on revenue of $996 million.

CTAS is mixed in its performance between the sessions, cutting back its after-hours, earnings-driven movement in next-day trade in nine of the 17 earnings events that we've tracked. This excludes four quarters when the stock went from flat in the night session to three times ending down in the next day session and a fourth time closing up the following day. Near-term, CTAS favors reversing between the sessions, with one flat to lower trade, three reversals and two widening moves.

Midnight Trader

  • On July 19, 2011, CTAS gained 6.9% in after-hours trade after topping fourth-quarter expectations and setting its guidance mostly in-line to above Street estimates. The stock packed on more gains the next day, closing the July 20 regular session up 9.8%.
  • On March 22, 2011, CTAS jumped 6% in after-hours trade after beating third-quarter estimates and setting its FY 2011 guidance above the Street view. The stock cut its upside slightly the next day, ending the March 23 regular session with a 5.7% gain.
  • On Dec. 21, 2010, CTAS declined 1.3% in after-hours trade after posting mixed second-quarter results and setting guidance in a range that straddled the Street view. The stock moved deeper in the red the next day, closing the Dec. 22 regular session down 3%.
  • On Sept. 21, 2010, CTAS edged up 0.4% in evening trade after beating first-quarter earnings expectations and setting its guidance in line to above the Street view. The stock reversed direction the following day, closing the Sept. 22 regular session down 1.8%.
  • On July 20, 2010, CTAS ended the evening session flat after beating fourth-quarter expectations and setting its FY 2011 EPS guidance below the Street view. The stock turned lower the following day, closing the July 21 regular session down 2.8%.
  • On March 18, 2010, the stock slipped 0.8% after a third-quarter beat and in-line guidance. Shares rebounded and gained 1.2% the following day.
  • On Dec. 22, 2009, CTAS declined 7.3% in after-hours action after missing second-quarter expectations. The stock headed lower the following day, ending the Dec. 23 regular session down 11.2%.
  • On Sept. 23, 2009, CTAS edged up 0.7% in after-hours trade after beating first-quarter expectations. The stock surged higher the following day, ending the Sept. 24 regular session up 6.5%.
  • On July 15, 2009, the stock fell 2.8% during evening trading despite an EPS beat, by one penny, by CTAS. Shares fell a slightly slimmer 2.5% the next day.
  • On March 18, 2009, the stock fell 1% after CTAS missed by a penny with EPS. Shares were up 5.6% the next day.
  • On Dec. 19, 2008, CTAS declined 6% in pre-market trade after reporting revenue up year-over-year but a decline in earnings. The stock tumbled lower in that day's regular session, losing 12.3% by the closing bell.
  • On Sept. 18, 2008, CTAS traded flat in the after-hours after meeting on revenue, missing on earnings, and reaffirming its outlook. The stock ended the Sept. 19 regular session down 5.1%.
  • On July 15, 2008, CTAS advanced 1.1% in evening trade after topping fourth-quarter earnings estimates and setting its guidance in line with estimates. It firmed even higher in the July 16 regular session, rising 4.7% by the closing bell.
  • On March 19, 2008, the stock gained 2.3% during evening hours after CTAS reported ahead of the Street with revenue, missed by a penny with EPS and offered mixed guidance. The gain was trimmed to 0.3% by the closing bell the following day.
  • On Dec. 20, 2007, CTAS did not trade in pre-market action after meeting EPS expectations, coming in shy on revenue and backing its outlook to match the Street. The stock turned to the plus side in that day's regular session, rising 5.2% by the closing bell.
  • On Sept. 27, 2007, CTAS dipped 0.7% in evening hours when the company missed first-quarter estimates. Shares slipped further the next day to close the regular session down 1%.
  • On July 18, 2007, CTAS ended the night session flat after topping fourth-quarter EPS estimates but missing on sales. Shares fell, though, the next day, ending the regular session down 5.4%.
  • On March 20, 2007, CTAS fell 4.9% in night trade after missing third-quarter estimates and forecasting for 2007 to be below Street views. Shares dropped further the next day, ending the day session down 8.2%.
  • On Dec. 19, 2006, CTAS shed 3.1% in after-hours trade after the company posted results shy of estimates. The stock saw its fortunes change the following day as CTAS advanced 3.9%.
  • On Sept. 20, 2006, CTAS edged down 0.2% in evening action after beating on EPS but missing on revenue. The stock turned to the plus-side on Sept. 21 as CTAS ended the regular session up 1.7%.
  • On July 13, 2006, CTAS declined 1.2% in night play after the company came in shy on revenue, beat on EPS, and set guidance in-line to lower than estimates. It narrowed its downside slightly the next day, losing 1.1% by the July 14 closing bell.

Disclaimer: The views represented herein are those of the individual authors only, and do not necessarily represent the views of Schaeffer's Investment Research.

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