Vestis (NYSE:VSTS – Get Free Report) announced its earnings results on Wednesday. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06, Briefing.com reports. The firm had revenue of $698.20 million during the quarter, compared to analysts’ expectations of $688.33 million. Vestis’s quarterly revenue was down 1.6% compared to the same quarter last year. Vestis updated its FY 2024 guidance to EPS.
Vestis Stock Up 1.8 %
Vestis stock traded up $0.23 during midday trading on Friday, hitting $13.00. 2,152,135 shares of the company’s stock were exchanged, compared to its average volume of 2,218,412. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a quick ratio of 2.16, a current ratio of 2.51 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average of $12.22 and a two-hundred day moving average of $15.69.
Vestis Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, June 14th.
Insider Activity
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on VSTS shares. Redburn Atlantic downgraded shares of Vestis from a “buy” rating to a “neutral” rating and set a $13.40 target price on the stock. in a research note on Tuesday, May 7th. The Goldman Sachs Group raised their price target on shares of Vestis from $11.00 to $12.50 and gave the stock a “neutral” rating in a research note on Thursday. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus reaffirmed a “hold” rating on shares of Vestis in a research note on Friday, May 3rd. Finally, William Blair started coverage on shares of Vestis in a research note on Friday, May 31st. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.54.
Get Our Latest Research Report on Vestis
Vestis Company Profile
Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.
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