Wall Street analysts expect UniFirst Corp (NYSE:UNF) to post $459.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for UniFirst’s earnings, with the highest sales estimate coming in at $461.00 million and the lowest estimate coming in at $458.66 million. UniFirst reported sales of $438.55 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, January 2nd.
On average, analysts expect that UniFirst will report full year sales of $1.87 billion for the current year, with estimates ranging from $1.87 billion to $1.88 billion. For the next financial year, analysts forecast that the company will post sales of $1.93 billion, with estimates ranging from $1.92 billion to $1.94 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover UniFirst.
UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, October 23rd. The textile maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.44. UniFirst had a net margin of 9.49% and a return on equity of 9.67%. The company had revenue of $479.62 million during the quarter, compared to the consensus estimate of $471.41 million. During the same quarter in the prior year, the firm posted $2.06 earnings per share. UniFirst’s revenue for the quarter was up 10.5% on a year-over-year basis.
NYSE UNF traded down $1.68 during trading hours on Thursday, hitting $205.69. The company had a trading volume of 42,094 shares, compared to its average volume of 92,232. UniFirst has a 1-year low of $132.38 and a 1-year high of $211.63. The company has a market cap of $3.93 billion, a PE ratio of 24.14 and a beta of 0.70. The business has a 50 day moving average of $198.94 and a 200-day moving average of $185.67.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from UniFirst’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. UniFirst’s dividend payout ratio is presently 5.28%.
In other news, major shareholder Cecelia Levenstein sold 8,408 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $201.97, for a total value of $1,698,163.76. Following the completion of the sale, the insider now directly owns 118,558 shares of the company’s stock, valued at $23,945,159.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 29,500 shares of company stock valued at $5,846,211 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Tweedy Browne Co LLC raised its holdings in UniFirst by 1,610.2% during the third quarter. Tweedy Browne Co LLC now owns 554,746 shares of the textile maker’s stock worth $33,301,000 after purchasing an additional 522,309 shares in the last quarter. Man Group plc raised its holdings in UniFirst by 245.6% during the second quarter. Man Group plc now owns 197,060 shares of the textile maker’s stock worth $37,160,000 after purchasing an additional 140,034 shares in the last quarter. Prudential Financial Inc. raised its holdings in UniFirst by 390.8% during the second quarter. Prudential Financial Inc. now owns 133,218 shares of the textile maker’s stock worth $25,121,000 after purchasing an additional 106,075 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in UniFirst by 1,305.1% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 105,386 shares of the textile maker’s stock worth $19,873,000 after purchasing an additional 97,886 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new position in UniFirst during the second quarter worth about $17,171,000. 79.91% of the stock is owned by institutional investors and hedge funds.
UniFirst Company Profile
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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