UniFirst (UNF) got here out with quarterly earnings of $1.66 per share, beating the Zacks Consensus
UniFirst (UNF) got here out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.62 per share. This compares to earnings of $2.40 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of two.47%. 1 / 4 in the past, it was anticipated that this uniform supplier would put up earnings of $1.17 per share when it really produced earnings of $1.12, delivering a shock of -4.27%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 3 times.
UniFirst, which belongs to the Zacks Uniform and Associated trade, posted revenues of $428.64 million for the quarter ended August 2020, lacking the Zacks Consensus Estimate by 2.83%. This compares to year-ago revenues of $479.62 million. The corporate has topped consensus income estimates 3 times during the last 4 quarters.
The sustainability of the inventory’s quick value motion primarily based on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
UniFirst shares have misplaced about 2.6% because the starting of the yr versus the S&P 500’s acquire of 6.6%.
What’s Subsequent for UniFirst?
Whereas UniFirst has underperformed the market to date this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified recently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a formidable observe report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for UniFirst was favorable. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You’ll be able to see the whole checklist of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $2.14 on $450.25 million in revenues for the approaching quarter and $7.96 on $1.85 billion in revenues for the present fiscal yr.
Traders needs to be aware of the truth that the outlook for the trade can have a fabric affect on the efficiency of the inventory as nicely. When it comes to the Zacks Trade Rank, Uniform and Associated is at the moment within the high 22% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Unifirst Company (UNF): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.