Wall Street brokerages forecast that UniFirst Corp (NYSE:UNF) will report sales of $432.05 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for UniFirst’s earnings. The highest sales estimate is $435.00 million and the lowest is $429.67 million. UniFirst posted sales of $415.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.9%. The business is expected to issue its next quarterly earnings report on Wednesday, January 2nd.

According to Zacks, analysts expect that UniFirst will report full-year sales of $1.78 billion for the current year. For the next financial year, analysts expect that the firm will post sales of $1.82 billion, with estimates ranging from $1.81 billion to $1.83 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow UniFirst.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, October 17th. The textile maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. UniFirst had a return on equity of 8.54% and a net margin of 9.33%. The business had revenue of $434.10 million for the quarter, compared to the consensus estimate of $421.45 million. During the same period last year, the business earned $1.44 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.

A number of research firms recently weighed in on UNF. Zacks Investment Research raised UniFirst from a “hold” rating to a “buy” rating and set a $206.00 target price on the stock in a research report on Wednesday, August 29th. ValuEngine downgraded UniFirst from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Robert W. Baird set a $170.00 target price on UniFirst and gave the stock a “buy” rating in a research report on Thursday, October 18th.

UNF stock opened at $146.09 on Thursday. UniFirst has a twelve month low of $143.68 and a twelve month high of $193.05. The stock has a market cap of $2.96 billion, a P/E ratio of 19.61 and a beta of 0.77.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 7th will be issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Thursday, December 6th. UniFirst’s payout ratio is 6.04%.

In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of UniFirst stock in a transaction that occurred on Wednesday, October 17th. The stock was sold at an average price of $152.65, for a total transaction of $335,830.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 6,600 shares of company stock worth $1,067,110 over the last ninety days. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in UniFirst by 43.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 947 shares of the textile maker’s stock valued at $168,000 after purchasing an additional 286 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in UniFirst by 17.7% during the third quarter. Glenmede Trust Co. NA now owns 2,465 shares of the textile maker’s stock valued at $427,000 after purchasing an additional 370 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in UniFirst by 30.1% during the second quarter. Envestnet Asset Management Inc. now owns 1,698 shares of the textile maker’s stock valued at $301,000 after purchasing an additional 393 shares in the last quarter. Summit Global Investments boosted its holdings in UniFirst by 10.8% during the third quarter. Summit Global Investments now owns 4,100 shares of the textile maker’s stock valued at $712,000 after purchasing an additional 400 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in UniFirst by 1.3% during the second quarter. Raymond James & Associates now owns 32,288 shares of the textile maker’s stock valued at $5,712,000 after purchasing an additional 409 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. 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, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.

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Earnings History and Estimates for UniFirst (NYSE:UNF)

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