UniFirst (UNF) to Release Quarterly Earnings on Wednesday

UniFirst (NYSE:UNFGet Free Report) is scheduled to release its earnings data before the market opens on Wednesday, March 27th. Analysts expect UniFirst to post earnings of $1.24 per share for the quarter. UniFirst has set its FY 2024 guidance at 6.520-7.160 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

UniFirst (NYSE:UNFGet Free Report) last released its earnings results on Wednesday, January 3rd. The textile maker reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.20. UniFirst had a return on equity of 6.01% and a net margin of 4.90%. The company had revenue of $593.50 million for the quarter, compared to analysts’ expectations of $589.64 million. During the same period in the previous year, the business posted $2.21 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, analysts expect UniFirst to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

UniFirst Trading Down 1.0 %

NYSE:UNF opened at $170.04 on Monday. The stock has a market capitalization of $3.18 billion, a PE ratio of 28.48 and a beta of 0.82. The firm’s 50 day moving average is $169.91 and its 200 day moving average is $170.19. UniFirst has a 12 month low of $150.50 and a 12 month high of $193.52.

UniFirst Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, March 7th. UniFirst’s dividend payout ratio (DPR) is currently 22.11%.

Insider Buying and Selling at UniFirst

In related news, EVP William Masters Ross sold 2,282 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.27, for a total value of $399,966.14. Following the completion of the transaction, the executive vice president now directly owns 4,034 shares in the company, valued at $707,039.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by company insiders.

Institutional Trading of UniFirst

A number of hedge funds have recently bought and sold shares of the company. Covestor Ltd lifted its stake in UniFirst by 187.4% in the first quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock worth $50,000 after purchasing an additional 178 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of UniFirst by 28.9% during the third quarter. Tower Research Capital LLC TRC now owns 393 shares of the textile maker’s stock worth $64,000 after purchasing an additional 88 shares during the period. Point72 Hong Kong Ltd purchased a new position in UniFirst during the 1st quarter valued at about $69,000. SRS Capital Advisors Inc. lifted its holdings in UniFirst by 16.7% in the 2nd quarter. SRS Capital Advisors Inc. now owns 579 shares of the textile maker’s stock worth $90,000 after buying an additional 83 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of UniFirst during the first quarter valued at approximately $103,000. Institutional investors own 76.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UNF. Barclays upped their price target on shares of UniFirst from $160.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. StockNews.com lowered shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Robert W. Baird restated a “neutral” rating and set a $185.00 price target on shares of UniFirst in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, UniFirst has a consensus rating of “Hold” and an average target price of $177.50.

View Our Latest Stock Analysis on UniFirst

About UniFirst

(Get Free Report)

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.

Further Reading

Earnings History for UniFirst (NYSE:UNF)

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