UniFirst (UNF) Updates FY19 Earnings Guidance

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UniFirst (NYSE:UNF) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.65-6.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.03. The company issued revenue guidance of $1.77-1.79 billion, compared to the consensus revenue estimate of $1.78 billion.

Shares of NYSE UNF opened at $133.86 on Friday. UniFirst has a one year low of $132.38 and a one year high of $193.05. The firm has a market cap of $2.74 billion, a PE ratio of 17.97 and a beta of 0.77.

UniFirst (NYSE:UNF) last issued its quarterly earnings data on Thursday, January 3rd. The textile maker reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.04). The company had revenue of $438.60 million for the quarter, compared to analysts’ expectations of $433.21 million. UniFirst had a return on equity of 8.54% and a net margin of 9.33%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. As a group, sell-side analysts forecast that UniFirst will post 7.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Investors of record on Friday, December 7th will be issued a dividend of $0.1125 per share. The ex-dividend date is Thursday, December 6th. This represents a $0.45 dividend on an annualized basis and a yield of 0.34%. UniFirst’s dividend payout ratio (DPR) is 6.04%.

UNF has been the topic of a number of recent research reports. ValuEngine cut UniFirst from a buy rating to a hold rating in a report on Friday. Zacks Investment Research cut UniFirst from a hold rating to a sell rating in a report on Tuesday, October 23rd. Finally, Robert W. Baird set a $170.00 price objective on UniFirst and gave the stock a buy rating in a report on Thursday, October 18th.

In other UniFirst news, major shareholder The Ronald D. Croatti Trust – 1 sold 2,200 shares of the firm’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $149.57, for a total value of $329,054.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Cynthia Croatti sold 2,288 shares of the firm’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $141.20, for a total value of $323,065.60. Following the completion of the sale, the vice president now directly owns 10,883 shares in the company, valued at approximately $1,536,679.60. The disclosure for this sale can be found here. Insiders have sold a total of 8,888 shares of company stock worth $1,295,180 in the last three months. 1.00% of the stock is currently owned by insiders.

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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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