UniFirst (UNF) to Release Earnings on Wednesday

UniFirst (NYSE:UNF) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, March 27th. Analysts expect the company to announce earnings of $1.24 per share for the quarter. UniFirst has set its FY 2024 guidance at 6.520-7.160 EPS.Parties interested in registering for the company’s conference call can do so using this link.

UniFirst (NYSE:UNF) last released its earnings results on Wednesday, January 3rd. The textile maker reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.20. The company had revenue of $593.50 million for the quarter, compared to the consensus estimate of $589.64 million. UniFirst had a net margin of 4.90% and a return on equity of 6.01%. UniFirst’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.21 EPS. On average, analysts expect UniFirst to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

UniFirst Trading Up 0.8 %

Shares of UNF stock opened at $169.43 on Wednesday. The firm has a market capitalization of $3.17 billion, a PE ratio of 28.38 and a beta of 0.82. The firm has a fifty day simple moving average of $169.79 and a two-hundred day simple moving average of $170.29. UniFirst has a 12 month low of $150.50 and a 12 month high of $194.43.

UniFirst Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, March 7th. UniFirst’s dividend payout ratio is currently 22.11%.

Insider Buying and Selling at UniFirst

In related news, EVP William Masters Ross sold 2,282 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $175.27, for a total value of $399,966.14. Following the completion of the sale, the executive vice president now owns 4,034 shares in the company, valued at approximately $707,039.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.74% of the company’s stock.

Institutional Investors Weigh In On UniFirst

Several institutional investors and hedge funds have recently modified their holdings of UNF. Covestor Ltd boosted its holdings in UniFirst by 187.4% in the first quarter. Covestor Ltd now owns 273 shares of the textile maker’s stock worth $50,000 after purchasing an additional 178 shares during the last quarter. Tower Research Capital LLC TRC raised its position in UniFirst by 28.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 393 shares of the textile maker’s stock worth $64,000 after purchasing an additional 88 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of UniFirst during the first quarter valued at approximately $69,000. SRS Capital Advisors Inc. lifted its stake in shares of UniFirst by 16.7% during the 2nd quarter. SRS Capital Advisors Inc. now owns 579 shares of the textile maker’s stock worth $90,000 after acquiring an additional 83 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in UniFirst in the first quarter worth $103,000. 76.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on UNF shares. Barclays lifted their target price on UniFirst from $160.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. Robert W. Baird reaffirmed a “neutral” rating and set a $185.00 price target on shares of UniFirst in a research report on Thursday, January 4th. Finally, StockNews.com upgraded UniFirst from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, UniFirst has a consensus rating of “Hold” and a consensus price target of $177.50.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It 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.