Wall Street brokerages forecast that UniFirst Corp (NYSE:UNF) will announce sales of $405.34 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for UniFirst’s earnings. The highest sales estimate is $406.24 million and the lowest is $404.01 million. UniFirst reported sales of $391.43 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The business is expected to issue its next quarterly earnings report on Wednesday, April 4th.
On average, analysts expect that UniFirst will report full year sales of $405.34 million for the current fiscal year, with estimates ranging from $1.64 billion to $1.65 billion. For the next year, analysts expect that the company will report sales of $1.70 billion per share, with estimates ranging from $1.69 billion to $1.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow UniFirst.
UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, January 3rd. The textile maker reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.19. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The firm had revenue of $415.80 million during the quarter, compared to analysts’ expectations of $404.60 million. During the same quarter last year, the business earned $1.38 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.
Separately, Zacks Investment Research upgraded shares of UniFirst from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a research note on Tuesday, December 26th.
In other UniFirst news, VP David Martin Katz sold 1,060 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the completion of the transaction, the vice president now directly owns 2,667 shares in the company, valued at approximately $448,456.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Croatti sold 1,202 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $170.26, for a total transaction of $204,652.52. Following the transaction, the vice president now owns 4,420 shares of the company’s stock, valued at $752,549.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,725 shares of company stock valued at $783,568 over the last 90 days. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB purchased a new position in UniFirst during the 4th quarter valued at about $293,000. Fairpointe Capital LLC purchased a new position in UniFirst during the 4th quarter valued at about $807,000. MetLife Investment Advisors LLC purchased a new position in UniFirst during the 4th quarter valued at about $1,185,000. Millennium Management LLC increased its holdings in UniFirst by 492.4% during the 4th quarter. Millennium Management LLC now owns 38,660 shares of the textile maker’s stock valued at $6,375,000 after acquiring an additional 32,134 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its holdings in UniFirst by 24.2% during the 4th quarter. Meadow Creek Investment Management LLC now owns 2,156 shares of the textile maker’s stock valued at $355,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 71.97% of the company’s stock.
Shares of UniFirst (UNF) traded up $1.85 during midday trading on Wednesday, hitting $158.95. 62,982 shares of the company traded hands, compared to its average volume of 69,996. UniFirst has a 12-month low of $129.60 and a 12-month high of $176.15. The firm has a market capitalization of $3,187.40, a PE ratio of 42.73, a price-to-earnings-growth ratio of 2.90 and a beta of 0.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 9th will be issued a dividend of $0.0375 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.15 annualized dividend and a yield of 0.09%. UniFirst’s dividend payout ratio (DPR) is currently 4.03%.
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UniFirst Company Profile
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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