Analysts Expect UniFirst Co. (NYSE:UNF) Will Announce Earnings of $1.93 Per Share

Wall Street brokerages forecast that UniFirst Co. (NYSE:UNFGet Rating) will report $1.93 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for UniFirst’s earnings. The lowest EPS estimate is $1.87 and the highest is $1.98. UniFirst reported earnings per share of $2.21 in the same quarter last year, which suggests a negative year over year growth rate of 12.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that UniFirst will report full-year earnings of $6.91 per share for the current fiscal year, with EPS estimates ranging from $6.90 to $6.92. For the next financial year, analysts expect that the firm will report earnings of $8.12 per share, with EPS estimates ranging from $7.90 to $8.33. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for UniFirst.

UniFirst (NYSE:UNFGet Rating) last posted its quarterly earnings data on Wednesday, March 30th. The textile maker reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.38). The company had revenue of $486.70 million during the quarter, compared to the consensus estimate of $481.09 million. UniFirst had a net margin of 6.77% and a return on equity of 7.36%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $1.71 earnings per share.

A number of brokerages recently weighed in on UNF. Zacks Investment Research cut shares of UniFirst from a “hold” rating to a “sell” rating in a report on Saturday, April 2nd. StockNews.com lowered shares of UniFirst from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. lowered shares of UniFirst from a “neutral” rating to an “underweight” rating in a research note on Friday, April 1st. TheStreet lowered shares of UniFirst from a “b” rating to a “c+” rating in a research note on Thursday, January 27th. Finally, Robert W. Baird cut their target price on shares of UniFirst from $213.00 to $195.00 in a research report on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UniFirst currently has an average rating of “Hold” and a consensus price target of $195.00.

Shares of UniFirst stock traded down $0.23 on Monday, hitting $159.90. The company had a trading volume of 66,838 shares, compared to its average volume of 69,442. The company has a market cap of $3.01 billion, a PE ratio of 23.62 and a beta of 0.99. UniFirst has a 52 week low of $156.04 and a 52 week high of $242.79. The business has a 50-day simple moving average of $173.10 and a 200-day simple moving average of $185.77.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 8th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, June 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.75%. UniFirst’s dividend payout ratio is currently 17.73%.

Several institutional investors have recently added to or reduced their stakes in UNF. Quadrant Capital Group LLC grew its stake in UniFirst by 90.1% in the 4th quarter. Quadrant Capital Group LLC now owns 154 shares of the textile maker’s stock valued at $32,000 after buying an additional 73 shares during the last quarter. Signaturefd LLC grew its stake in UniFirst by 488.2% in the 1st quarter. Signaturefd LLC now owns 200 shares of the textile maker’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in UniFirst by 73.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 196 shares of the textile maker’s stock valued at $41,000 after buying an additional 83 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in UniFirst in the 3rd quarter valued at $44,000. Finally, Covestor Ltd grew its stake in UniFirst by 187.4% in the 1st quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock valued at $50,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 77.61% of the company’s stock.

About UniFirst (Get Rating)

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It 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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