UniFirst (NYSE:UNF) Releases Quarterly Earnings Results, Beats Estimates By $0.76 EPS

UniFirst (NYSE:UNF) issued its quarterly earnings results on Wednesday, June 26th. The textile maker reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.70 by $0.76, RTT News reports. The firm had revenue of $453.72 million for the quarter, compared to analyst estimates of $441.70 million. UniFirst had a net margin of 9.21% and a return on equity of 9.67%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 EPS. UniFirst updated its FY19 guidance to $8.75-8.85 EPS.

Shares of NYSE:UNF traded up $2.98 on Thursday, hitting $190.49. The company had a trading volume of 118,169 shares, compared to its average volume of 122,484. The stock’s 50-day moving average is $175.17. UniFirst has a 1 year low of $132.38 and a 1 year high of $191.99. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 25.57 and a beta of 0.74.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 6th will be given a $0.1125 dividend. The ex-dividend date is Thursday, September 5th. This represents a $0.45 annualized dividend and a dividend yield of 0.24%. UniFirst’s dividend payout ratio is 6.04%.

In related news, VP David A. Difillippo sold 883 shares of UniFirst stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $157.85, for a total transaction of $139,381.55. Following the completion of the transaction, the vice president now directly owns 11,162 shares of the company’s stock, valued at approximately $1,761,921.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David A. Difillippo sold 874 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $157.76, for a total transaction of $137,882.24. Following the sale, the vice president now owns 11,162 shares of the company’s stock, valued at $1,760,917.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,928 shares of company stock valued at $305,112. Corporate insiders own 1.00% of the company’s stock.

Several research firms recently commented on UNF. ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Finally, JPMorgan Chase & Co. lowered shares of Sogou from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $5.50 to $4.12 in a report on Thursday, June 27th.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. Rental and Cleaning, 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.

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Earnings History for UniFirst (NYSE:UNF)

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