UniFirst (UNF) Set to Announce Earnings on Wednesday

UniFirst (NYSE:UNF) will issue its quarterly earnings data before the market opens on Wednesday, June 26th. Analysts expect the company to announce earnings of $1.88 per share for the quarter. UniFirst has set its FY24 guidance at $6.80-7.16 EPS and its FY 2024 guidance at 6.800-7.160 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

UniFirst (NYSE:UNF) last released its quarterly earnings data on Wednesday, March 27th. The textile maker reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). UniFirst had a return on equity of 6.19% and a net margin of 4.92%. The company had revenue of $590.71 million for the quarter, compared to analyst estimates of $587.56 million. On average, analysts expect UniFirst to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

UniFirst Trading Down 2.0 %

UNF stock opened at $152.71 on Wednesday. UniFirst has a twelve month low of $149.58 and a twelve month high of $187.22. The company’s 50 day moving average is $160.50 and its two-hundred day moving average is $167.99. The stock has a market cap of $2.85 billion, a P/E ratio of 24.99 and a beta of 0.85.

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.86%. UniFirst’s dividend payout ratio (DPR) is presently 21.60%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of UniFirst from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Thursday, March 28th. StockNews.com raised UniFirst from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Finally, Barclays lifted their price target on UniFirst from $160.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $177.75.

Insiders Place Their Bets

In other UniFirst news, major shareholder Cecelia Levenstein sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $155.76, for a total value of $856,680.00. Following the completion of the transaction, the insider now owns 68,058 shares in the company, valued at approximately $10,600,714.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.74% of the stock is owned by company insiders.

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.