Zacks: Brokerages Anticipate Unifirst Corporation (UNF) to Announce $1.24 Earnings Per Share
Analysts expect that Unifirst Corporation (NYSE:UNF) will report earnings of $1.24 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Unifirst Corporation’s earnings. The lowest EPS estimate is $1.19 and the highest is $1.32. Unifirst Corporation posted earnings of $1.27 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The company is expected to issue its next earnings report 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 fiscal year, analysts anticipate that the business will post earnings of $5.53 per share, with EPS estimates ranging from $5.44 to $5.70. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Unifirst Corporation.
Unifirst Corporation (NYSE:UNF) last issued its earnings results on Wednesday, June 28th. The textile maker reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Unifirst Corporation had a return on equity of 7.41% and a net margin of 7.12%. The business had revenue of $409.80 million for the quarter, compared to analyst estimates of $396.07 million. During the same quarter last year, the company earned $1.49 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis.
UNF has been the subject of a number of analyst reports. Zacks Investment Research raised Unifirst Corporation from a “hold” rating to a “buy” rating and set a $157.00 price target for the company in a report on Tuesday, May 30th. Robert W. Baird raised Unifirst Corporation from a “neutral” rating to an “outperform” rating and increased their price target for the company from $145.00 to $163.00 in a report on Thursday, June 29th. Finally, BidaskClub downgraded 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 0.10% during midday trading on Friday, hitting $143.95. The stock had a trading volume of 7,138 shares. The company has a market cap of $2.92 billion, a P/E ratio of 26.52 and a beta of 0.70. 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 $140.53 and a 200-day moving average of $138.77.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 yield of 0.10%. The ex-dividend date is Thursday, September 7th. Unifirst Corporation’s dividend payout ratio is currently 2.77%.
A number of institutional investors and hedge funds have recently modified their holdings of UNF. BlackRock Inc. boosted its holdings 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 valued at $262,102,000 after purchasing an additional 1,849,471 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Unifirst Corporation in the second quarter valued at about $121,138,000. TimesSquare Capital Management LLC purchased a new position in Unifirst Corporation in the first quarter valued at about $46,588,000. Neuberger Berman Group LLC boosted its holdings 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 purchasing an additional 169,919 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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 purchasing an additional 83,165 shares during the last quarter. 73.47% of the stock is owned by hedge funds and other institutional investors.
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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