UniFirst (UNF) Announces Earnings Results

UniFirst (NYSE:UNF) issued its quarterly earnings results on Wednesday. The textile maker reported $1.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.19, Morningstar.com reports. UniFirst had a return on equity of 7.53% and a net margin of 4.40%. The firm had revenue of $415.80 million during the quarter, compared to the consensus estimate of $404.60 million. During the same period last year, the business posted $1.38 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. UniFirst updated its FY18 guidance to $5.10-5.30 EPS.

Shares of UniFirst (NYSE UNF) traded up $2.20 on Thursday, hitting $170.00. The stock had a trading volume of 131,300 shares, compared to its average volume of 125,700. The firm has a market cap of $3,402.15, a P/E ratio of 49.56, a PEG ratio of 3.19 and a beta of 0.74. UniFirst has a 12 month low of $124.85 and a 12 month high of $172.00.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 8th will be paid a $0.0375 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $0.15 annualized dividend and a dividend yield of 0.09%. UniFirst’s dividend payout ratio is presently 4.37%.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded UniFirst from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a report on Tuesday, December 26th. Northcoast Research reiterated a “neutral” rating on shares of UniFirst in a report on Thursday, October 19th. Finally, Robert W. Baird increased their price target on UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. UniFirst has a consensus rating of “Hold” and a consensus price target of $180.00.

In other news, VP David Martin Katz sold 1,060 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $168.15, for a total value of $178,239.00. Following the completion of the sale, the vice president now directly owns 2,667 shares in the company, valued at approximately $448,456.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael A. Croatti sold 1,216 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $168.99, for a total value of $205,491.84. Following the completion of the sale, the vice president now owns 3,375 shares of the company’s stock, valued at $570,341.25. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in UniFirst by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,404,198 shares of the textile maker’s stock valued at $197,571,000 after acquiring an additional 15,155 shares in the last quarter. Janus Henderson Group PLC lifted its position in UniFirst by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 909,126 shares of the textile maker’s stock valued at $137,733,000 after acquiring an additional 48,162 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in UniFirst by 1.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 873,793 shares of the textile maker’s stock valued at $122,943,000 after acquiring an additional 11,559 shares in the last quarter. Victory Capital Management Inc. lifted its position in UniFirst by 5.3% in the 3rd quarter. Victory Capital Management Inc. now owns 586,882 shares of the textile maker’s stock valued at $88,912,000 after acquiring an additional 29,575 shares in the last quarter. Finally, State Street Corp lifted its position in UniFirst by 4.4% in the 2nd quarter. State Street Corp now owns 376,860 shares of the textile maker’s stock valued at $53,020,000 after acquiring an additional 15,909 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This report was first reported by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/03/unifirst-unf-posts-earnings-results.html.

UniFirst 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.

Earnings History for UniFirst (NYSE:UNF)

Receive News & Ratings for UniFirst Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UniFirst and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply