Brokerages Expect Unifirst Corporation (UNF) to Post $1.34 EPS
Wall Street analysts expect that Unifirst Corporation (NYSE:UNF) will report earnings of $1.34 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Unifirst Corporation’s earnings, with the highest EPS estimate coming in at $1.38 and the lowest estimate coming in at $1.27. Unifirst Corporation posted earnings of $1.49 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.1%. The firm is expected to announce its next earnings report before the market opens on Wednesday, June 28th.
On average, analysts expect that Unifirst Corporation will report full-year earnings of $5.01 per share for the current year, with EPS estimates ranging from $4.95 to $5.09. For the next financial year, analysts forecast that the firm will post earnings of $5.47 per share, with EPS estimates ranging from $5.36 to $5.69. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Unifirst Corporation.
Unifirst Corporation (NYSE:UNF) last released its earnings results on Wednesday, March 29th. The textile maker reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.09. Unifirst Corporation had a return on equity of 7.75% and a net margin of 7.70%. The company had revenue of $391.40 million for the quarter, compared to analysts’ expectations of $385.28 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis.
Separately, Zacks Investment Research lowered shares of Unifirst Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st.
Unifirst Corporation (UNF) traded up 0.46% during trading on Monday, reaching $141.85. The company’s stock had a trading volume of 30,362 shares. The firm has a 50 day moving average of $139.89 and a 200 day moving average of $136.93. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 24.79 and a beta of 0.75. Unifirst Corporation has a 52 week low of $104.86 and a 52 week high of $147.65.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be paid a dividend of $0.0375 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. Unifirst Corporation’s dividend payout ratio is presently 2.60%.
In related news, Director Phillip L. Cohen sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $137.02, for a total transaction of $205,530.00. Following the transaction, the director now owns 11,551 shares in the company, valued at $1,582,718.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia Croatti sold 1,708 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were sold at an average price of $134.21, for a total transaction of $229,230.68. Following the transaction, the vice president now owns 4,000 shares in the company, valued at approximately $536,840. The disclosure for this sale can be found here. Insiders have sold 4,963 shares of company stock worth $683,971 in the last quarter. Company insiders own 6.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of UNF. Macquarie Group Ltd. raised its position in Unifirst Corporation by 6.7% in the fourth quarter. Macquarie Group Ltd. now owns 272,678 shares of the textile maker’s stock worth $39,170,000 after buying an additional 17,043 shares in the last quarter. Norges Bank bought a new position in Unifirst Corporation during the fourth quarter worth approximately $31,693,000. Numeric Investors LLC bought a new position in Unifirst Corporation during the fourth quarter worth approximately $690,000. Summit Global Investments bought a new position in Unifirst Corporation during the fourth quarter worth approximately $474,000. Finally, Guggenheim Capital LLC raised its position in Unifirst Corporation by 27.4% in the fourth quarter. Guggenheim Capital LLC now owns 117,079 shares of the textile maker’s stock worth $16,818,000 after buying an additional 25,190 shares in the last quarter. Institutional investors and hedge funds own 74.80% of the company’s stock.
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Unifirst Corporation Company Profile
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. The Company designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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