FY2024 EPS Estimates for UniFirst Co. Lowered by Analyst (NYSE:UNF)

UniFirst Co. (NYSE:UNF) – Research analysts at William Blair lowered their FY2024 EPS estimates for shares of UniFirst in a report released on Thursday, March 28th. William Blair analyst T. Mulrooney now forecasts that the textile maker will post earnings per share of $7.44 for the year, down from their previous estimate of $7.56. The consensus estimate for UniFirst’s current full-year earnings is $6.98 per share. William Blair also issued estimates for UniFirst’s Q4 2024 earnings at $1.96 EPS.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, January 3rd. The textile maker reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.20. The business had revenue of $593.50 million for the quarter, compared to the consensus estimate of $589.64 million. UniFirst had a net margin of 4.92% and a return on equity of 6.19%. UniFirst’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS.

Other analysts also recently issued reports about the stock. Barclays raised their target price on shares of UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. UBS Group boosted their price objective on shares of UniFirst from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com lowered shares of UniFirst from a “buy” rating to a “hold” rating in a research report on Saturday, March 23rd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $185.00 price objective on shares of UniFirst in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $177.75.

UniFirst Stock Performance

Shares of UNF stock opened at $173.43 on Friday. The company has a market capitalization of $3.24 billion, a P/E ratio of 28.38 and a beta of 0.82. The company’s 50 day moving average price is $170.19 and its two-hundred day moving average price is $170.15. UniFirst has a 52 week low of $150.50 and a 52 week high of $187.22.

UniFirst Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.76%. UniFirst’s payout ratio is 21.60%.

Insider Buying and Selling

In related news, EVP William Masters Ross sold 2,282 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.27, for a total transaction of $399,966.14. Following the transaction, the executive vice president now directly owns 4,034 shares in the company, valued at $707,039.18. The sale was disclosed in a filing with the SEC, which is available through this link. 0.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UniFirst

Several institutional investors and hedge funds have recently modified their holdings of UNF. Citigroup Inc. increased its holdings in shares of UniFirst by 4.1% in the first quarter. Citigroup Inc. now owns 16,104 shares of the textile maker’s stock valued at $2,967,000 after purchasing an additional 635 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of UniFirst by 52.7% in the first quarter. MetLife Investment Management LLC now owns 7,984 shares of the textile maker’s stock valued at $1,471,000 after purchasing an additional 2,755 shares during the last quarter. Rhumbline Advisers boosted its position in shares of UniFirst by 9.8% in the first quarter. Rhumbline Advisers now owns 50,022 shares of the textile maker’s stock valued at $9,218,000 after acquiring an additional 4,452 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of UniFirst by 13.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,111 shares of the textile maker’s stock valued at $2,416,000 after acquiring an additional 1,603 shares during the period. Finally, Yousif Capital Management LLC boosted its position in shares of UniFirst by 1.8% in the first quarter. Yousif Capital Management LLC now owns 13,967 shares of the textile maker’s stock valued at $2,574,000 after acquiring an additional 250 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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. 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.