UniFirst (UNF) Issues Quarterly Earnings Results

UniFirst (NYSE:UNF) announced its quarterly earnings results on Thursday. The textile maker reported $1.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.04), MarketWatch Earnings reports. UniFirst had a net margin of 9.33% and a return on equity of 8.54%. The business had revenue of $438.60 million during the quarter, compared to analyst estimates of $433.21 million. During the same period last year, the company earned $1.67 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. UniFirst updated its FY19 guidance to $6.65-6.90 EPS.

Shares of UniFirst stock traded down $7.95 during trading hours on Thursday, hitting $137.06. The company’s stock had a trading volume of 3,540 shares, compared to its average volume of 73,331. UniFirst has a twelve month low of $133.17 and a twelve month high of $193.05. The firm has a market cap of $2.74 billion, a PE ratio of 18.10 and a beta of 0.77.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be paid a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Thursday, December 6th. UniFirst’s dividend payout ratio (DPR) is presently 6.04%.

In related news, VP Cynthia Croatti sold 2,288 shares of the stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $141.20, for a total transaction of $323,065.60. Following the transaction, the vice president now owns 10,883 shares of the company’s stock, valued at approximately $1,536,679.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the stock in a transaction dated Wednesday, October 17th. The stock was sold at an average price of $152.65, for a total value of $335,830.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,888 shares of company stock worth $1,295,180. Corporate insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zacks Investment Management acquired a new position in UniFirst during the 2nd quarter worth about $2,736,000. WINTON GROUP Ltd lifted its stake in UniFirst by 1,127.6% during the 2nd quarter. WINTON GROUP Ltd now owns 40,436 shares of the textile maker’s stock worth $7,153,000 after acquiring an additional 37,142 shares in the last quarter. Bessemer Group Inc. lifted its stake in UniFirst by 34.1% during the 3rd quarter. Bessemer Group Inc. now owns 11,400 shares of the textile maker’s stock worth $1,980,000 after acquiring an additional 2,900 shares in the last quarter. Wells Fargo & Company MN lifted its stake in UniFirst by 3.5% during the 3rd quarter. Wells Fargo & Company MN now owns 106,124 shares of the textile maker’s stock worth $18,428,000 after acquiring an additional 3,578 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in UniFirst during the 3rd quarter worth about $9,611,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

UNF has been the topic of several recent analyst reports. Robert W. Baird set a $170.00 price target on UniFirst and gave the company a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research lowered UniFirst from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd.

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About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Canada, and Europe. It operates through US Rental and Cleaning, Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. The company 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.

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Earnings History for UniFirst (NYSE:UNF)

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