Vestis (NYSE:VSTS – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06, Briefing.com reports. The business had revenue of $698.20 million for the quarter, compared to analysts’ expectations of $688.33 million. The company’s 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 %
VSTS traded up $0.23 on Friday, reaching $13.00. The company’s stock had a trading volume of 2,152,135 shares, compared to its average volume of 2,218,412. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The stock has a 50 day moving average of $12.22 and a two-hundred day moving average of $15.69. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51.
Vestis Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Friday, June 14th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Friday, June 14th.
Wall Street Analyst Weigh In
Check Out Our Latest Report on Vestis
Insider Activity
In other news, major shareholder Corvex Management Lp acquired 116,044 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $12.59 per share, with a total value of $1,460,993.96. Following the completion of the acquisition, the insider now owns 16,707,877 shares of the company’s stock, valued at $210,352,171.43. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Williams Ena Koschel acquired 8,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $12.27 per share, with a total value of $104,295.00. Following the completion of the acquisition, the director now owns 29,266 shares of the company’s stock, valued at $359,093.82. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Corvex Management Lp purchased 116,044 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were bought at an average price of $12.59 per share, with a total value of $1,460,993.96. Following the purchase, the insider now directly owns 16,707,877 shares of the company’s stock, valued at $210,352,171.43. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 318,454 shares of company stock valued at $3,907,102.
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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