$392.26 Million in Sales Expected for Unifirst Corporation (UNF) This Quarter
Wall Street brokerages forecast that Unifirst Corporation (NYSE:UNF) will announce sales of $392.26 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Unifirst Corporation’s earnings. The highest sales estimate is $397.25 million and the lowest is $389.57 million. Unifirst Corporation reported sales of $363.77 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Unifirst Corporation will report full-year sales of $392.26 million for the current financial year, with estimates ranging from $1.57 billion to $1.58 billion. For the next year, analysts anticipate that the firm will post sales of $1.63 billion per share, with estimates ranging from $1.61 billion to $1.65 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Unifirst Corporation.
Unifirst Corporation (NYSE:UNF) last announced its quarterly earnings results on Wednesday, June 28th. The textile maker reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.02. The business had revenue of $409.80 million during the quarter, compared to analyst estimates of $396.07 million. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. Unifirst Corporation’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS.
A number of brokerages have recently weighed in on UNF. Zacks Investment Research lowered Unifirst Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Robert W. Baird raised Unifirst Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $145.00 to $163.00 in a report on Thursday, June 29th. Finally, BidaskClub lowered Unifirst Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
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Shares of Unifirst Corporation (UNF) traded up 0.07% during mid-day trading on Friday, reaching $138.15. 46,661 shares of the company’s stock were exchanged. Unifirst Corporation has a one year low of $116.67 and a one year high of $147.65. The stock has a 50-day moving average of $139.52 and a 200 day moving average of $137.68. The firm has a market capitalization of $2.80 billion, a P/E ratio of 25.46 and a beta of 0.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.0375 dividend. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Thursday, September 7th. Unifirst Corporation’s dividend payout ratio is presently 2.77%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont bought a new stake in Unifirst Corporation during the second quarter valued at approximately $149,000. Riverhead Capital Management LLC raised its stake in Unifirst Corporation by 83.2% in the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the textile maker’s stock valued at $155,000 after buying an additional 499 shares during the period. Huntington National Bank raised its stake in Unifirst Corporation by 10.3% in the first quarter. Huntington National Bank now owns 1,208 shares of the textile maker’s stock valued at $171,000 after buying an additional 113 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Unifirst Corporation during the first quarter valued at approximately $185,000. Finally, Citadel Advisors LLC bought a new stake in Unifirst Corporation during the first quarter valued at approximately $213,000. 73.47% of the stock is currently owned by institutional investors and hedge funds.
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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