UniFirst Corporation Plans Quarterly Dividend of $0.36 (NYSE:UNF)

UniFirst Corporation (NYSE:UNF – Get Free Report) announced a quarterly dividend on Monday, July 13th. Investors of record on Friday, September 4th will be paid a dividend of 0.365 per share by the textile maker on Friday, September 25th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, September 4th.

UniFirst has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 7 years. UniFirst has a payout ratio of 16.9% meaning its dividend is sufficiently covered by earnings. Analysts expect UniFirst to earn $8.13 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 18.0%.

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UniFirst Trading Up 0.6%

Shares of UniFirst stock opened at $273.29 on Tuesday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 43.11 and a beta of 0.63. The business’s fifty day simple moving average is $264.77 and its 200 day simple moving average is $245.28. UniFirst has a 12 month low of $147.66 and a 12 month high of $283.77.

UniFirst (NYSE:UNF – Get Free Report) last announced its earnings results on Wednesday, July 1st. The textile maker reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.84). The business had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $627.66 million. UniFirst had a net margin of 4.65% and a return on equity of 6.44%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.13 earnings per share. Analysts predict that UniFirst will post 7.49 EPS for the current fiscal year.

Analysts Set New Price Targets

UNF has been the topic of several research reports. Weiss Ratings lowered shares of UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. UBS Group set a $262.00 price target on shares of UniFirst in a research note on Monday, July 6th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, UniFirst currently has an average rating of “Hold” and an average price target of $246.67.

View Our Latest Stock Report on UniFirst

UniFirst Company Profile

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UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).

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