FY2024 EPS Estimates for UniFirst Co. (NYSE:UNF) Decreased by Analyst

UniFirst Co. (NYSE:UNF - Free Report) - Equities researchers at William Blair decreased their FY2024 EPS estimates for shares of UniFirst in a research report issued to clients and investors on Thursday, March 28th. William Blair analyst T. Mulrooney now anticipates that the textile maker will post earnings of $7.44 per share for the year, down from their previous estimate of $7.56. The consensus estimate for UniFirst's current full-year earnings is $6.98 per share. William Blair also issued estimates for UniFirst's Q4 2024 earnings at $1.96 EPS.

UniFirst (NYSE:UNF - Get Free Report) last announced its earnings results on Wednesday, January 3rd. The textile maker reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.20. UniFirst had a return on equity of 6.19% and a net margin of 4.92%. The business had revenue of $593.50 million for the quarter, compared to analysts' expectations of $589.64 million. During the same quarter last year, the firm earned $2.21 EPS. The business's revenue for the quarter was up 9.5% on a year-over-year basis.

Other research analysts have also issued research reports about the stock. Barclays boosted their price objective on shares of UniFirst from $160.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 29th. UBS Group increased their price objective on UniFirst from $184.00 to $186.00 and gave the company a "neutral" rating in a report on Thursday. Robert W. Baird reaffirmed a "neutral" rating and set a $185.00 target price on shares of UniFirst in a report on Thursday, January 4th. Finally, StockNews.com cut shares of UniFirst from a "buy" rating to a "hold" rating in a research note on Saturday, March 23rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $177.75.

UniFirst Stock Up 0.8 %

Shares of NYSE UNF traded up $1.36 during mid-day trading on Friday, reaching $173.43. 157,448 shares of the company were exchanged, compared to its average volume of 81,067. The firm has a 50-day moving average of $170.34 and a 200 day moving average of $170.16. UniFirst has a 1 year low of $150.50 and a 1 year high of $187.22. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 28.38 and a beta of 0.82.

Hedge Funds Weigh In On UniFirst

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in UniFirst by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,690,940 shares of the textile maker's stock worth $309,290,000 after acquiring an additional 12,138 shares during the last quarter. River Road Asset Management LLC lifted its position in UniFirst by 0.5% during the fourth quarter. River Road Asset Management LLC now owns 848,299 shares of the textile maker's stock worth $155,162,000 after buying an additional 4,078 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in UniFirst by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 678,973 shares of the textile maker's stock worth $124,193,000 after buying an additional 21,115 shares during the last quarter. Finally, State Street Corp grew its holdings in UniFirst by 0.3% in the 3rd quarter. State Street Corp now owns 558,531 shares of the textile maker's stock valued at $93,962,000 after buying an additional 1,591 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Buying and Selling

In other UniFirst news, EVP William Masters Ross sold 2,282 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $175.27, for a total transaction of $399,966.14. Following the transaction, the executive vice president now directly owns 4,034 shares of the company's stock, valued at $707,039.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.74% of the stock is owned by insiders.

UniFirst Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.76%. UniFirst's dividend payout ratio (DPR) is 21.60%.

UniFirst Company Profile

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