Zacks: Analysts Expect Unifirst Corporation (UNF) Will Post Quarterly Sales of $406.50 Million
Brokerages expect that Unifirst Corporation (NYSE:UNF) will report sales of $406.50 million for the current quarter, according to Zacks. Four analysts have provided estimates for Unifirst Corporation’s earnings, with the lowest sales estimate coming in at $402.09 million and the highest estimate coming in at $411.86 million. Unifirst Corporation posted sales of $386.11 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The business is expected to report its next earnings report on Wednesday, January 3rd.
According to Zacks, analysts expect that Unifirst Corporation will report full-year sales of $406.50 million for the current year, with estimates ranging from $1.64 billion to $1.65 billion. For the next financial year, analysts forecast that the business will post sales of $1.70 billion per share, with estimates ranging from $1.68 billion to $1.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Unifirst Corporation.
Unifirst Corporation (NYSE:UNF) last released its earnings results on Wednesday, October 18th. The textile maker reported $1.44 EPS for the quarter, beating the consensus estimate of $1.24 by $0.20. Unifirst Corporation had a net margin of 4.40% and a return on equity of 7.53%. The firm had revenue of $403.60 million for the quarter, compared to analyst estimates of $392.15 million. During the same period last year, the firm earned $1.27 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year.
Several equities analysts have commented on UNF shares. Zacks Investment Research lowered shares of Unifirst Corporation from a “hold” rating to a “strong sell” rating in a report on Saturday, October 21st. Northcoast Research reissued a “neutral” rating on shares of Unifirst Corporation in a report on Thursday, October 19th. Finally, Robert W. Baird raised their target price on shares of Unifirst Corporation from $163.00 to $171.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $165.00.
Unifirst Corporation (UNF) traded down $1.20 during mid-day trading on Wednesday, reaching $149.80. 62,500 shares of the company’s stock traded hands, compared to its average volume of 55,402. Unifirst Corporation has a 52-week low of $124.85 and a 52-week high of $162.40. The company has a market cap of $3,061.52, a price-to-earnings ratio of 28.60, a P/E/G ratio of 2.87 and a beta of 0.74.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 8th will be issued a $0.0375 dividend. This represents a $0.15 annualized dividend and a yield of 0.10%. The ex-dividend date is Thursday, December 7th. Unifirst Corporation’s dividend payout ratio is currently 4.37%.
Several institutional investors and hedge funds have recently bought and sold shares of UNF. Trust Co. of Vermont acquired a new stake in shares of Unifirst Corporation in the 2nd quarter valued at approximately $149,000. Riverhead Capital Management LLC boosted its stake in shares of Unifirst Corporation by 83.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,099 shares of the textile maker’s stock valued at $155,000 after purchasing an additional 499 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Unifirst Corporation by 26,600.0% in the 3rd quarter. Sei Investments Co. now owns 1,068 shares of the textile maker’s stock valued at $162,000 after purchasing an additional 1,064 shares in the last quarter. Huntington National Bank boosted its stake in shares of Unifirst Corporation by 6.4% in the 2nd quarter. Huntington National Bank now owns 1,285 shares of the textile maker’s stock valued at $181,000 after purchasing an additional 77 shares in the last quarter. Finally, Shelton Capital Management acquired a new stake in shares of Unifirst Corporation in the 2nd quarter valued at approximately $216,000. Institutional investors own 73.61% 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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