Universal (NYSE:UVV) Posts Earnings Results, Misses Estimates By $1.54 EPS

Universal (NYSE:UVV) posted its quarterly earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($1.54), FiscalAI reports. The company had revenue of $715.24 million during the quarter, compared to analysts’ expectations of $728.20 million. Universal had a return on equity of 6.49% and a net margin of 2.93%.

Universal Stock Down 7.1%

UVV traded down $3.92 during midday trading on Thursday, hitting $51.31. 1,081,373 shares of the company’s stock traded hands, compared to its average volume of 203,205. The company has a market cap of $1.28 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. The stock’s fifty day simple moving average is $53.11 and its 200-day simple moving average is $53.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.91 and a quick ratio of 1.30. Universal has a one year low of $49.95 and a one year high of $67.33.

Universal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, July 13th. This is a boost from Universal’s previous quarterly dividend of $0.82. This represents a $3.32 annualized dividend and a yield of 6.5%. Universal’s payout ratio is 97.94%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Universal from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research upgraded Universal from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings cut Universal from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Hedge Funds Weigh In On Universal

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of Universal by 18.8% in the first quarter. Royal Bank of Canada now owns 24,009 shares of the company’s stock worth $1,345,000 after buying an additional 3,795 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Universal by 8.7% in the 1st quarter. AQR Capital Management LLC now owns 24,791 shares of the company’s stock valued at $1,390,000 after acquiring an additional 1,976 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Universal by 24.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 36,958 shares of the company’s stock worth $2,071,000 after purchasing an additional 7,261 shares during the last quarter. Jane Street Group LLC bought a new stake in Universal during the first quarter worth approximately $3,927,000. Finally, Intech Investment Management LLC boosted its position in Universal by 20.7% during the first quarter. Intech Investment Management LLC now owns 24,070 shares of the company’s stock worth $1,349,000 after purchasing an additional 4,124 shares during the period. 81.00% of the stock is currently owned by institutional investors.

About Universal

Universal Corporation (NYSE: UVV) is a global agribusiness company primarily engaged in the procurement, processing and sale of leaf tobacco. Headquartered in Richmond, Virginia, the company sources cured leaf tobacco from key growing regions in North and South America, Africa and Asia. Universal serves major multinational tobacco manufacturers by providing a full range of services including inventory management, quality control and logistics support to ensure a consistent and reliable supply of tobacco leaf.

In addition to its core leaf tobacco operations, Universal offers integrated supply-chain services that encompass warehousing, distribution and ingredient sourcing for smokeless and novel tobacco products.