Q2 2018 Earnings Estimate for UniFirst Corp (UNF) Issued By Northcoast Research
UniFirst Corp (NYSE:UNF) – Analysts at Northcoast Research cut their Q2 2018 EPS estimates for UniFirst in a note issued to investors on Thursday. Northcoast Research analyst J. Healy now anticipates that the textile maker will post earnings per share of $1.02 for the quarter, down from their previous forecast of $1.09. Northcoast Research currently has a “Neutral” rating on the stock. Northcoast Research also issued estimates for UniFirst’s Q3 2018 earnings at $1.29 EPS, Q4 2018 earnings at $1.39 EPS and FY2019 earnings at $5.75 EPS.
UniFirst (NYSE:UNF) last released its earnings results on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.19. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The business had revenue of $415.80 million during the quarter, compared to analysts’ expectations of $404.60 million. During the same period last year, the business earned $1.38 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis.
UniFirst (UNF) traded up $5.05 during mid-day trading on Friday, reaching $175.05. 97,200 shares of the company’s stock were exchanged, compared to its average volume of 116,200. UniFirst has a 1 year low of $124.85 and a 1 year high of $175.05. The company has a market capitalization of $3,550.00, a PE ratio of 46.93, a price-to-earnings-growth ratio of 3.27 and a beta of 0.74.
A number of hedge funds and other institutional investors have recently modified their holdings of UNF. Schwab Charles Investment Management Inc. raised its stake in UniFirst by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 94,034 shares of the textile maker’s stock worth $13,231,000 after acquiring an additional 5,215 shares in the last quarter. SG Americas Securities LLC raised its stake in UniFirst by 209.7% during the second quarter. SG Americas Securities LLC now owns 5,538 shares of the textile maker’s stock worth $779,000 after acquiring an additional 3,750 shares in the last quarter. Bank of New York Mellon Corp raised its stake in UniFirst by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 205,765 shares of the textile maker’s stock worth $28,951,000 after acquiring an additional 2,881 shares in the last quarter. Legal & General Group Plc raised its stake in UniFirst by 8.9% during the second quarter. Legal & General Group Plc now owns 29,512 shares of the textile maker’s stock worth $4,153,000 after acquiring an additional 2,417 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in UniFirst by 52.0% during the second quarter. BNP Paribas Arbitrage SA now owns 5,778 shares of the textile maker’s stock worth $813,000 after acquiring an additional 1,977 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Michael A. Croatti sold 1,216 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $168.99, for a total value of $205,491.84. Following the completion of the transaction, the vice president now owns 3,375 shares of the company’s stock, valued at $570,341.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David Martin Katz sold 1,060 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $168.15, for a total value of $178,239.00. Following the completion of the transaction, the vice president now directly owns 2,667 shares of the company’s stock, valued at approximately $448,456.05. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
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 issued a dividend of $0.0375 per share. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Thursday, December 7th. UniFirst’s dividend payout ratio is currently 4.02%.
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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.
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