Vestis (VSTS) to Release Earnings on Thursday

Vestis (NYSE:VSTS) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect Vestis to post earnings of $0.22 per share for the quarter. Vestis has set its FY 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Vestis (NYSE:VSTS) last announced its earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $717.90 million during the quarter, compared to analysts’ expectations of $724.72 million. The company’s revenue was up 2.5% on a year-over-year basis. On average, analysts expect Vestis to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Vestis Stock Down 1.3 %

VSTS opened at $18.70 on Thursday. Vestis has a 1-year low of $13.83 and a 1-year high of $22.37. The business has a 50 day moving average price of $18.84 and a two-hundred day moving average price of $18.65. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.75%.

Insiders Place Their Bets

In other news, CEO Kim Scott acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and lifted their target price for the stock from $17.00 to $19.00 in a report on Wednesday, February 28th. Wolfe Research initiated coverage on shares of Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of Vestis in a report on Thursday, January 25th. They set a “neutral” rating and a $22.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.56.

About Vestis

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.