Unifirst Corporation (NYSE:UNF) Releases Earnings Results, Beats Expectations By $0.20 EPS

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.

Earnings History for Unifirst Corporation (NYSE:UNF)

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