UniFirst (NYSE:UNF) Releases FY 2022 Earnings Guidance

UniFirst (NYSE:UNFGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $6.800-$7.000 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.180. The company issued revenue guidance of $1.97 billion-$1.98 billion, compared to the consensus revenue estimate of $1.95 billion.

UniFirst stock opened at $168.81 on Wednesday. UniFirst has a 1 year low of $165.52 and a 1 year high of $242.79. The firm’s 50-day moving average is $178.95 and its 200-day moving average is $194.62. The company has a market cap of $3.18 billion, a P/E ratio of 24.94 and a beta of 1.02.

UniFirst (NYSE:UNFGet Rating) last released its quarterly earnings data on Wednesday, March 30th. The textile maker reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.39). UniFirst had a return on equity of 7.36% and a net margin of 6.77%. The business had revenue of $486.70 million for the quarter, compared to analyst estimates of $481.09 million. During the same quarter last year, the company earned $1.71 EPS. UniFirst’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts expect that UniFirst will post 6.91 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Investors of record on Wednesday, June 8th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Tuesday, June 7th. UniFirst’s dividend payout ratio (DPR) is 17.73%.

UNF has been the topic of several analyst reports. TheStreet lowered UniFirst from a b rating to a c+ rating in a research report on Thursday, January 27th. Robert W. Baird raised shares of UniFirst from a neutral rating to an outperform rating in a report on Thursday, January 6th. JPMorgan Chase & Co. lowered shares of UniFirst from a neutral rating to an underweight rating in a research note on Friday, April 1st. StockNews.com initiated coverage on shares of UniFirst in a research note on Thursday, March 31st. They issued a hold rating on the stock. Finally, Zacks Investment Research downgraded UniFirst from a hold rating to a sell rating in a research report on Saturday, April 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold.

In other UniFirst news, EVP Cynthia Croatti sold 504 shares of the firm’s stock in a transaction dated Thursday, January 13th. The shares were sold at an average price of $192.99, for a total transaction of $97,266.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 646 shares of company stock worth $123,240. Company insiders own 1.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its position in shares of UniFirst by 13.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 45,984 shares of the textile maker’s stock valued at $9,675,000 after purchasing an additional 5,582 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of UniFirst by 2.9% in the 4th quarter. Legal & General Group Plc now owns 43,756 shares of the textile maker’s stock worth $9,207,000 after purchasing an additional 1,214 shares in the last quarter. Stifel Financial Corp lifted its stake in UniFirst by 1.2% during the fourth quarter. Stifel Financial Corp now owns 27,406 shares of the textile maker’s stock valued at $5,766,000 after purchasing an additional 316 shares during the last quarter. California State Teachers Retirement System grew its position in UniFirst by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 21,050 shares of the textile maker’s stock worth $4,429,000 after buying an additional 407 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of UniFirst by 0.7% in the fourth quarter. Sei Investments Co. now owns 18,539 shares of the textile maker’s stock valued at $3,916,000 after buying an additional 128 shares in the last quarter. 76.81% of the stock is owned by hedge funds and other institutional investors.

About UniFirst (Get Rating)

UniFirst Corp. engages in the design, manufacture, personalization, rental, cleaning, delivery, and sale of a range of uniforms and protective clothing. It operates through following segments: U.S. Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, First Aid, and Corporate.

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