Analysts Expect Unifirst Corporation (UNF) Will Announce Quarterly Sales of $406.50 Million

Equities analysts expect Unifirst Corporation (NYSE:UNF) to announce sales of $406.50 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Unifirst’s earnings. The highest sales estimate is $411.86 million and the lowest is $402.09 million. Unifirst posted sales of $386.11 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, January 3rd.

According to Zacks, analysts expect that Unifirst will report full year sales of $406.50 million for the current fiscal year, with estimates ranging from $1.64 billion to $1.65 billion. For the next year, analysts anticipate that the business will report sales of $1.70 billion per share, with estimates ranging from $1.68 billion to $1.71 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Unifirst.

Unifirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, October 18th. The textile maker reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.20. The company had revenue of $403.60 million during the quarter, compared to analyst estimates of $392.15 million. Unifirst had a return on equity of 7.53% and a net margin of 4.40%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share.

UNF has been the subject of a number of recent research reports. Zacks Investment Research upgraded Unifirst from a “hold” rating to a “buy” rating and set a $162.00 target price for the company in a research note on Wednesday, September 6th. Northcoast Research reiterated a “neutral” rating on shares of Unifirst in a research note on Thursday, October 19th. Finally, Robert W. Baird increased their target price on Unifirst from $163.00 to $171.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $165.00.

Unifirst (NYSE UNF) traded down $2.20 during mid-day trading on Friday, hitting $165.40. The stock had a trading volume of 56,100 shares, compared to its average volume of 56,673. Unifirst has a fifty-two week low of $124.85 and a fifty-two week high of $169.57. The firm has a market capitalization of $3,398.09, a price-to-earnings ratio of 31.74, a P/E/G ratio of 3.18 and a beta of 0.74.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 8th will be paid a $0.0375 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.09%. Unifirst’s dividend payout ratio (DPR) is currently 4.37%.

Several hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Unifirst in the third quarter valued at about $334,000. Martin & Co. Inc. TN boosted its holdings in Unifirst by 56.9% in the third quarter. Martin & Co. Inc. TN now owns 14,900 shares of the textile maker’s stock valued at $2,257,000 after purchasing an additional 5,401 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Unifirst by 10.1% in the third quarter. California Public Employees Retirement System now owns 21,148 shares of the textile maker’s stock valued at $3,204,000 after purchasing an additional 1,948 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Unifirst in the third quarter valued at about $362,000. Finally, Janus Henderson Group PLC boosted its holdings in Unifirst by 5.6% in the third quarter. Janus Henderson Group PLC now owns 909,126 shares of the textile maker’s stock valued at $137,733,000 after purchasing an additional 48,162 shares during the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.

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About Unifirst

UniFirst Corporation is a provider of workplace uniforms and protective work wear clothing in the United States. 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, aprons and specialized protective wear, such as flame resistant and high visibility garments.

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Earnings History and Estimates for Unifirst (NYSE:UNF)

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