UniFirst (NYSE:UNF) Issues FY 2024 Earnings Guidance

UniFirst (NYSE:UNF) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.170-7.490 for the period, compared to the consensus EPS estimate of 7.450. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. UniFirst also updated its FY24 guidance to $7.17-7.49 EPS.

Analyst Ratings Changes

Several equities analysts have weighed in on UNF shares. StockNews.com raised UniFirst from a hold rating to a buy rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. lifted their price objective on UniFirst from $170.00 to $175.00 and gave the stock an underweight rating in a research report on Thursday. Robert W. Baird boosted their target price on shares of UniFirst from $185.00 to $199.00 and gave the company a neutral rating in a research note on Thursday. Finally, UBS Group raised their price target on shares of UniFirst from $186.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UniFirst currently has a consensus rating of Hold and an average price target of $186.00.

UniFirst Trading Up 0.1 %

UNF stock opened at $171.53 on Friday. The company has a market cap of $3.20 billion, a PE ratio of 25.04 and a beta of 0.85. The stock has a 50-day moving average price of $160.84 and a two-hundred day moving average price of $167.20. UniFirst has a 12-month low of $149.58 and a 12-month high of $187.22.

UniFirst (NYSE:UNF) last announced its quarterly earnings results on Wednesday, March 27th. The textile maker reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.19). UniFirst had a net margin of 5.44% and a return on equity of 6.93%. The business had revenue of $590.71 million for the quarter, compared to analyst estimates of $587.56 million. Equities analysts forecast that UniFirst will post 7.44 EPS for the current fiscal year.

UniFirst Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.33 per share. The ex-dividend date was Friday, June 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.77%. UniFirst’s dividend payout ratio (DPR) is 19.27%.

Insider Activity at UniFirst

In other news, major shareholder Cecelia Levenstein sold 5,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $155.76, for a total value of $856,680.00. Following the completion of the sale, the insider now owns 68,058 shares of the company’s stock, valued at $10,600,714.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Michael A. Croatti sold 1,800 shares of UniFirst stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $169.00, for a total transaction of $304,200.00. Following the sale, the vice president now owns 5,747 shares of the company’s stock, valued at approximately $971,243. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cecelia Levenstein sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $155.76, for a total value of $856,680.00. Following the sale, the insider now owns 68,058 shares of the company’s stock, valued at $10,600,714.08. The disclosure for this sale can be found here. In the last three months, insiders sold 28,033 shares of company stock worth $4,398,882. Corporate insiders own 0.74% of the company’s stock.

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.