Zacks: Analysts Expect Unifirst Corporation (NYSE:UNF) Will Announce Earnings of $1.24 Per Share
Brokerages expect Unifirst Corporation (NYSE:UNF) to report earnings per share of $1.24 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Unifirst Corporation’s earnings, with the highest EPS estimate coming in at $1.32 and the lowest estimate coming in at $1.19. Unifirst Corporation posted earnings of $1.27 per share in the same quarter last year, which indicates a negative year over year growth rate of 2.4%. The business is expected to issue its next quarterly earnings results on Wednesday, October 18th.
On average, 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 firm will post earnings of $5.53 per share, with EPS estimates ranging from $5.44 to $5.70. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Unifirst Corporation.
Unifirst Corporation (NYSE:UNF) last posted its quarterly earnings data on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.02. The firm had revenue of $409.80 million for the quarter, compared to analysts’ expectations of $396.07 million. Unifirst Corporation had a net margin of 7.12% and a return on equity of 7.41%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $1.49 EPS.
A number of equities research analysts recently issued reports on UNF shares. BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Unifirst Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Robert W. Baird raised shares of Unifirst Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $145.00 to $163.00 in a research note on Thursday, June 29th.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Unifirst Corporation by 52,993.4% in the first quarter. BlackRock Inc. now owns 1,852,961 shares of the textile maker’s stock worth $262,102,000 after buying an additional 1,849,471 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Unifirst Corporation during the first quarter valued at $46,588,000. Neuberger Berman Group LLC raised its position in 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 period. Vanguard Group Inc. raised its position in 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 period. Finally, TPG Group Holdings SBS Advisors Inc. raised its position in 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 period. 74.39% of the stock is owned by hedge funds and other institutional investors.
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Shares of Unifirst Corporation (NYSE UNF) opened at 143.35 on Friday. Unifirst Corporation has a 52-week low of $116.67 and a 52-week high of $147.65. The stock has a market cap of $2.91 billion, a PE ratio of 26.41 and a beta of 0.70. The stock’s 50 day moving average is $140.28 and its 200 day moving average is $136.48.
The company also recently declared 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 0.10%. The ex-dividend date is Thursday, September 7th.
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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