UniFirst Corp (NYSE:UNF) – Stock analysts at Northcoast Research cut their Q2 2020 earnings per share estimates for UniFirst in a report released on Thursday, January 9th. Northcoast Research analyst J. Healy now forecasts that the textile maker will earn $1.57 per share for the quarter, down from their previous estimate of $2.02.
UniFirst (NYSE:UNF) last posted its earnings results on Wednesday, January 8th. The textile maker reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.01 by $0.51. The firm had revenue of $465.40 million for the quarter, compared to the consensus estimate of $459.19 million. UniFirst had a net margin of 9.89% and a return on equity of 10.21%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share.
Other equities research analysts also recently issued reports about the company. William Blair reaffirmed a “market perform” rating on shares of UniFirst in a research report on Wednesday, January 8th. Zacks Investment Research raised UniFirst from a “hold” rating to a “strong-buy” rating and set a $239.00 price target on the stock in a research report on Saturday.
Shares of NYSE:UNF opened at $212.37 on Monday. The company has a market cap of $3.92 billion, a P/E ratio of 24.93 and a beta of 0.71. The stock’s 50-day moving average is $206.62 and its 200-day moving average is $198.86. UniFirst has a 52-week low of $134.16 and a 52-week high of $217.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.06 and a current ratio of 4.57.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc acquired a new position in shares of UniFirst during the 2nd quarter worth about $38,000. Marshall Wace North America L.P. lifted its stake in UniFirst by 17.4% in the 1st quarter. Marshall Wace North America L.P. now owns 473 shares of the textile maker’s stock valued at $73,000 after purchasing an additional 70 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in UniFirst in the 3rd quarter valued at approximately $98,000. Point72 Hong Kong Ltd bought a new position in UniFirst in the 2nd quarter valued at approximately $99,000. Finally, NEXT Financial Group Inc bought a new position in UniFirst in the 3rd quarter valued at approximately $150,000. Institutional investors and hedge funds own 79.35% of the company’s stock.
In other news, VP David A. Difillippo sold 776 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $206.16, for a total value of $159,980.16. Following the sale, the vice president now directly owns 12,130 shares of the company’s stock, valued at $2,500,720.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Steven S. Sintros sold 750 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $206.16, for a total value of $154,620.00. Following the completion of the sale, the chief executive officer now directly owns 15,106 shares in the company, valued at $3,114,252.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,627 shares of company stock worth $335,809. 1.10% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were given a $0.25 dividend. This is an increase from UniFirst’s previous quarterly dividend of $0.11. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, December 5th. UniFirst’s dividend payout ratio (DPR) is currently 11.74%.
UniFirst Company Profile
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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