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

UniFirst (NYSE:UNF) released its quarterly earnings results on Tuesday. The textile maker reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates 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%.

Shares of UNF traded down $4.77 during trading hours on Thursday, reaching $220.19. 858 shares of the company’s stock traded hands, compared to its average volume of 108,446. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 28.08 and a beta of 0.89. UniFirst has a twelve month low of $121.89 and a twelve month high of $227.55. The business’s fifty day simple moving average is $199.76 and its two-hundred day simple moving average is $188.38.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Monday, December 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Friday, December 4th. UniFirst’s dividend payout ratio (DPR) is 11.74%.

In other news, EVP Michael A. Croatti sold 1,286 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,718,311.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael A. Croatti sold 997 shares of the company’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 transaction, the executive vice president now owns 9,122 shares in the company, valued at approximately $1,490,626.02. The disclosure for this sale can be found here. Insiders have sold 2,370 shares of company stock worth $423,063 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Several equities analysts recently issued reports on UNF shares. Northcoast Research restated a “neutral” rating on shares of UniFirst in a research note on Thursday, October 22nd. BidaskClub upgraded UniFirst from a “sell” rating to a “hold” rating in a research note on Friday, December 11th. Finally, Zacks Investment Research upgraded UniFirst from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 23rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. UniFirst currently has a consensus rating of “Hold” and an average target price of $191.67.

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.

Further Reading: Cost of Equity

Earnings History for UniFirst (NYSE:UNF)

Receive News & Ratings for UniFirst Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UniFirst and related companies with MarketBeat.com's FREE daily email newsletter.