Q2 2018 EPS Estimates for UniFirst Corp (UNF) Reduced by Analyst

UniFirst Corp (NYSE:UNF) – Analysts at Northcoast Research dropped their Q2 2018 earnings per share (EPS) estimates for shares of UniFirst in a research note issued to investors on Thursday. Northcoast Research analyst J. Healy now anticipates that the textile maker will post earnings of $1.02 per share for the quarter, down from their prior forecast of $1.09. Northcoast Research has a “Neutral” rating on the stock. Northcoast Research also issued estimates for UniFirst’s Q3 2018 earnings at $1.29 EPS, Q4 2018 earnings at $1.39 EPS and FY2019 earnings at $5.75 EPS.

UniFirst (NYSE:UNF) last announced its quarterly earnings data on Wednesday, January 3rd. The textile maker reported $1.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.19. The firm had revenue of $415.80 million during the quarter, compared to analysts’ expectations of $404.60 million. UniFirst had a net margin of 4.69% and a return on equity of 7.72%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 earnings per share.

UNF has been the subject of a number of other reports. Zacks Investment Research cut shares of UniFirst from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 21st. Robert W. Baird increased their price objective on shares of UniFirst from $163.00 to $171.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $180.00.

Shares of UniFirst (UNF) opened at $171.60 on Friday. The stock has a market cap of $3,480.00, a price-to-earnings ratio of 46.01, a PEG ratio of 3.37 and a beta of 0.74. UniFirst has a 52 week low of $124.85 and a 52 week high of $176.15.

Several large investors have recently modified their holdings of UNF. Riverhead Capital Management LLC boosted its position in shares of UniFirst by 83.2% during the second quarter. Riverhead Capital Management LLC now owns 1,099 shares of the textile maker’s stock worth $155,000 after acquiring an additional 499 shares during the last quarter. Sei Investments Co. boosted its position in shares of UniFirst by 26,600.0% during the third quarter. Sei Investments Co. now owns 1,068 shares of the textile maker’s stock worth $162,000 after acquiring an additional 1,064 shares during the last quarter. Shelton Capital Management bought a new position in shares of UniFirst during the second quarter worth $216,000. Amalgamated Bank boosted its position in shares of UniFirst by 2.0% during the second quarter. Amalgamated Bank now owns 2,086 shares of the textile maker’s stock worth $294,000 after acquiring an additional 40 shares during the last quarter. Finally, Eaton Vance Management bought a new position in shares of UniFirst during the second quarter worth $300,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

In related news, VP David Martin Katz sold 1,060 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $168.15, for a total transaction of $178,239.00. Following the completion of the transaction, the vice president now owns 2,667 shares in the company, valued at $448,456.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Croatti sold 1,216 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $168.99, for a total transaction of $205,491.84. Following the transaction, the vice president now owns 3,375 shares of the company’s stock, valued at approximately $570,341.25. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 8th were paid a $0.0375 dividend. The ex-dividend date was 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 presently 4.02%.

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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.

Earnings History and Estimates for UniFirst (NYSE:UNF)

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