Vestis (NYSE:VSTS) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Vestis (NYSE:VSTS) announced its quarterly earnings results on Thursday. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09), Briefing.com reports. The business had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The business’s revenue for the quarter was up .9% compared to the same quarter last year.

Vestis Price Performance

NYSE:VSTS traded down $0.75 during midday trading on Friday, reaching $9.41. The stock had a trading volume of 24,764,651 shares, compared to its average volume of 2,588,736. The firm has a fifty day simple moving average of $18.38 and a two-hundred day simple moving average of $18.67. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.23 and a current ratio of 2.51.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a $0.035 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VSTS shares. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a research note on Friday. Barclays dropped their price target on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lowered shares of Vestis from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $11.00 in a research note on Friday. Wolfe Research started coverage on shares of Vestis in a research note on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Robert W. Baird lowered their target price on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.33.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott bought 15,000 shares of Vestis stock in a transaction on Friday, February 9th. The stock was bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the acquisition, the chief executive officer now owns 183,131 shares in the company, valued at $3,505,127.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Vestis Company Profile

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.