$432.05 Million in Sales Expected for UniFirst Corp (UNF) This Quarter
Equities analysts forecast that UniFirst Corp (NYSE:UNF) will post sales of $432.05 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for UniFirst’s earnings. The highest sales estimate is $435.00 million and the lowest is $429.67 million. UniFirst reported sales of $415.78 million during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The firm is expected to issue its next earnings report on Wednesday, January 2nd.
On average, analysts expect that UniFirst will report full year sales of $1.78 billion for the current year. For the next financial year, analysts expect that the firm will report sales of $1.82 billion, with estimates ranging from $1.81 billion to $1.83 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow UniFirst.
UniFirst (NYSE:UNF) last released its earnings results on Wednesday, October 17th. The textile maker reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. The firm had revenue of $434.10 million during the quarter, compared to the consensus estimate of $421.45 million. During the same period in the previous year, the firm earned $1.44 earnings per share. UniFirst’s revenue was up 7.6% compared to the same quarter last year.
UniFirst stock traded up $0.77 during trading on Tuesday, reaching $150.71. The company had a trading volume of 93,179 shares, compared to its average volume of 79,282. UniFirst has a 12-month low of $143.68 and a 12-month high of $193.05. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 20.23 and a beta of 0.75.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be issued a $0.1125 dividend. The ex-dividend date is Thursday, December 6th. This represents a $0.45 dividend on an annualized basis and a yield of 0.30%. UniFirst’s payout ratio is 6.04%.
In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were sold at an average price of $152.65, for a total transaction of $335,830.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNF. Captrust Financial Advisors grew its stake in UniFirst by 743.3% during the second quarter. Captrust Financial Advisors now owns 565 shares of the textile maker’s stock worth $100,000 after buying an additional 498 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in UniFirst by 43.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock worth $168,000 after buying an additional 286 shares during the period. Zeke Capital Advisors LLC purchased a new stake in UniFirst during the second quarter worth approximately $207,000. Laurion Capital Management LP purchased a new stake in UniFirst during the third quarter worth approximately $251,000. Finally, Trexquant Investment LP purchased a new stake in UniFirst during the third quarter worth approximately $253,000. Institutional investors own 75.82% of the company’s stock.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.
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