UniFirst Co. (UNF) To Go Ex-Dividend on June 7th

UniFirst Co. (NYSE:UNFGet Free Report) declared a quarterly dividend on Thursday, April 11th, Wall Street Journal reports. Investors of record on Friday, June 7th will be paid a dividend of 0.33 per share by the textile maker on Friday, June 28th. This represents a $1.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, June 7th.

UniFirst has increased its dividend payment by an average of 8.0% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. UniFirst has a dividend payout ratio of 16.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect UniFirst to earn $8.14 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 16.2%.

UniFirst Price Performance

NYSE:UNF opened at $158.52 on Wednesday. UniFirst has a one year low of $150.50 and a one year high of $187.22. The company has a market cap of $2.96 billion, a P/E ratio of 25.94 and a beta of 0.85. The firm’s fifty day moving average price is $163.24 and its two-hundred day moving average price is $169.19.

UniFirst (NYSE:UNFGet Free Report) last released its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 EPS for the quarter, missing the consensus estimate of $1.41 by ($0.19). UniFirst had a net margin of 4.92% and a return on equity of 6.19%. The company had revenue of $590.71 million during the quarter, compared to analyst estimates of $587.56 million. As a group, equities research analysts expect that UniFirst will post 7.48 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on UNF. Barclays upped their price objective on shares of UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. StockNews.com raised shares of UniFirst from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, UBS Group increased their target price on shares of UniFirst from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $177.75.

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UniFirst Company Profile

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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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Dividend History for UniFirst (NYSE:UNF)

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