UniFirst (NYSE:UNF) Releases Earnings Results, Beats Expectations By $0.51 EPS

Posted by Thomas Dobrow on Jan 7th, 2021 // Comments off

UniFirst (NYSE:UNF) released its earnings results on Tuesday. The textile maker reported $2.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.51, MarketWatch Earnings reports. UniFirst had a net margin of 7.70% and a return on equity of 8.49%.

NYSE UNF traded down $3.86 during trading hours on Thursday, reaching $221.10. The company had a trading volume of 580 shares, compared to its average volume of 108,446. The stock has a 50-day moving average of $199.76 and a 200 day moving average of $188.38. UniFirst has a 1-year low of $121.89 and a 1-year high of $227.55. The stock has a market capitalization of $4.18 billion, a P/E ratio of 28.30 and a beta of 0.89.

The business also recently announced a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Monday, December 7th were given a $0.25 dividend. The ex-dividend date was Friday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. UniFirst’s payout ratio is currently 11.74%.

In other news, EVP Michael A. Croatti sold 1,286 shares of the stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $188.37, for a total transaction of $242,243.82. Following the sale, the executive vice president now owns 9,122 shares of the company’s stock, valued at $1,718,311.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael A. Croatti sold 997 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $163.41, for a total transaction of $162,919.77. Following the completion of the sale, the executive vice president now directly owns 9,122 shares in the company, valued at approximately $1,490,626.02. The disclosure for this sale can be found here. Insiders sold 2,370 shares of company stock worth $423,063 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

UNF has been the subject of a number of analyst reports. Northcoast Research reissued a “neutral” rating on shares of UniFirst in a report on Thursday, October 22nd. Zacks Investment Research raised shares of UniFirst from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 23rd. Finally, BidaskClub raised shares of UniFirst from a “sell” rating to a “hold” rating in a report on Friday, December 11th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $191.67.

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.

UniFirst (NYSE:UNF) Releases Earnings Results, Beats Expectations By $0.51 EPS

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