Unifirst Corporation (UNF) Expected to Announce Earnings of $1.24 Per Share
Brokerages expect Unifirst Corporation (NYSE:UNF) to announce $1.24 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Unifirst Corporation’s earnings. The highest EPS estimate is $1.32 and the lowest is $1.19. Unifirst Corporation posted earnings per share of $1.27 in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The company is expected to announce its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Unifirst Corporation will report full-year earnings of $4.93 per share for the current year, with EPS estimates ranging from $4.89 to $5.00. For the next year, analysts expect that the company will post earnings of $5.53 per share, with EPS estimates ranging from $5.44 to $5.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Unifirst Corporation.
Unifirst Corporation (NYSE:UNF) last released its earnings results on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.02. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The firm had revenue of $409.80 million for the quarter, compared to analyst estimates of $396.07 million. During the same period in the prior year, the firm earned $1.49 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year.
Several equities research analysts recently commented on UNF shares. Zacks Investment Research downgraded Unifirst Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. BidaskClub downgraded Unifirst Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Robert W. Baird upgraded Unifirst Corporation from a “neutral” rating to an “outperform” rating and raised their target price for the company from $145.00 to $163.00 in a report on Thursday, June 29th.
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Several large investors have recently made changes to their positions in UNF. BlackRock Inc. increased its stake in shares of Unifirst Corporation by 52,993.4% in the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock valued at $262,102,000 after buying an additional 1,849,471 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Unifirst Corporation by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,389,043 shares of the textile maker’s stock valued at $196,481,000 after buying an additional 83,165 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Unifirst Corporation by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 862,234 shares of the textile maker’s stock valued at $121,962,000 after buying an additional 41,850 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Unifirst Corporation by 32.4% in the first quarter. Neuberger Berman Group LLC now owns 693,703 shares of the textile maker’s stock valued at $98,124,000 after buying an additional 169,919 shares during the last quarter. Finally, TPG Group Holdings SBS Advisors Inc. increased its stake in shares of Unifirst Corporation by 7.4% in the first quarter. TPG Group Holdings SBS Advisors Inc. now owns 678,600 shares of the textile maker’s stock valued at $95,988,000 after buying an additional 46,874 shares during the last quarter. Institutional investors and hedge funds own 74.39% of the company’s stock.
Shares of Unifirst Corporation (NYSE:UNF) opened at 143.35 on Friday. The company’s 50 day moving average is $140.28 and its 200-day moving average is $136.48. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 26.41 and a beta of 0.70. Unifirst Corporation has a 1-year low of $116.67 and a 1-year high of $147.65.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.0375 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.15 annualized dividend and a dividend yield of 0.10%.
About Unifirst Corporation
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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