Unifirst Corporation (NYSE:UNF) announced its earnings results on Wednesday, October 18th. The textile maker reported $1.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.20, Bloomberg Earnings reports. The business had revenue of $403.60 million for the quarter, compared to the consensus estimate of $392.15 million. Unifirst Corporation had a net margin of 4.40% and a return on equity of 7.53%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Unifirst Corporation updated its FY18 guidance to $5.00-5.30 EPS.
Shares of Unifirst Corporation (NYSE:UNF) traded down 1.67% on Friday, reaching $158.50. 3,762 shares of the company’s stock traded hands. The firm has a market capitalization of $3.21 billion, a P/E ratio of 29.21 and a beta of 0.70. Unifirst Corporation has a 52 week low of $119.05 and a 52 week high of $160.95. The firm’s 50 day moving average is $150.82 and its 200 day moving average is $142.58.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 8th will be paid a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Thursday, December 7th. Unifirst Corporation’s dividend payout ratio is presently 4.37%.
Several research firms recently commented on UNF. Zacks Investment Research raised shares of Unifirst Corporation from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research note on Tuesday, September 12th. BidaskClub downgraded shares of Unifirst Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Robert W. Baird raised their price target on shares of Unifirst Corporation from $163.00 to $171.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Unifirst Corporation in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $165.00.
A number of hedge funds have recently made changes to their positions in UNF. Karp Capital Management Corp acquired a new position in Unifirst Corporation during the 1st quarter worth $634,000. Parametric Portfolio Associates LLC boosted its position in Unifirst Corporation by 8.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 26,360 shares of the textile maker’s stock worth $3,729,000 after acquiring an additional 2,060 shares during the period. SG Americas Securities LLC boosted its position in Unifirst Corporation by 22.4% during the 1st quarter. SG Americas Securities LLC now owns 1,788 shares of the textile maker’s stock worth $253,000 after acquiring an additional 327 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Unifirst Corporation by 1.1% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 3,520 shares of the textile maker’s stock worth $498,000 after acquiring an additional 40 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in Unifirst Corporation by 35.1% during the 1st quarter. OppenheimerFunds Inc. now owns 8,528 shares of the textile maker’s stock worth $1,206,000 after acquiring an additional 2,217 shares during the period. Institutional investors own 73.47% of the company’s stock.
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About Unifirst Corporation
UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.
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