UniFirst (NYSE:UNF) Releases Quarterly Earnings Results, Beats Expectations By $0.76 EPS

UniFirst (NYSE:UNF) released its quarterly earnings results on Wednesday. The textile maker reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.76, RTT News reports. UniFirst had a net margin of 9.21% and a return on equity of 9.67%. The business had revenue of $453.72 million for the quarter, compared to analysts’ expectations of $441.70 million. During the same period in the prior year, the firm earned $1.85 earnings per share. UniFirst’s revenue was up 6.2% compared to the same quarter last year. UniFirst updated its FY19 guidance to $8.75-8.85 EPS.

UNF opened at $188.57 on Friday. UniFirst has a one year low of $132.38 and a one year high of $191.95. The firm’s 50 day moving average is $163.81. The company has a market capitalization of $3.54 billion, a PE ratio of 22.99 and a beta of 0.63.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 0.24%. UniFirst’s dividend payout ratio (DPR) is currently 6.04%.



Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of UniFirst from $155.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday. ValuEngine raised shares of UniFirst from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research cut shares of UniFirst from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. UniFirst has a consensus rating of “Hold” and a consensus target price of $169.33.

In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 5,583 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $154.71, for a total value of $863,745.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael A. Croatti sold 532 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $156.35, for a total transaction of $83,178.20. Following the completion of the transaction, the vice president now directly owns 5,651 shares in the company, valued at $883,533.85. The disclosure for this sale can be found here. Insiders have sold 8,587 shares of company stock worth $1,336,378 over the last three months. 1.00% of the stock is owned by insiders.

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. Rental and Cleaning, 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.

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Earnings History for UniFirst (NYSE:UNF)

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