Aramark (NYSE:ARMK) Releases Quarterly Earnings Results, Hits Expectations

Aramark (NYSE:ARMKGet Rating) posted its quarterly earnings data on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49, Yahoo Finance reports. Aramark had a return on equity of 8.25% and a net margin of 1.00%. The firm had revenue of $4.39 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year.

Aramark Stock Up 0.3 %

ARMK opened at $38.86 on Tuesday. The business has a 50 day moving average price of $35.26 and a two-hundred day moving average price of $34.11. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 2.77. The company has a market cap of $10.01 billion, a PE ratio of 63.70, a P/E/G ratio of 0.54 and a beta of 1.66. Aramark has a 52 week low of $28.74 and a 52 week high of $39.95.

Aramark Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, November 21st. Aramark’s dividend payout ratio is presently 72.13%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ARMK shares. Morgan Stanley boosted their target price on Aramark from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 27th. Deutsche Bank Aktiengesellschaft boosted their target price on Aramark from $38.00 to $40.00 and gave the stock a “hold” rating in a research note on Wednesday, August 10th. Royal Bank of Canada lowered their price objective on Aramark from $41.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $36.00 price objective on shares of Aramark in a research report on Tuesday, October 25th. Finally, StockNews.com began coverage on Aramark in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.50.

Institutional Trading of Aramark

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARMK. Raymond James Financial Services Advisors Inc. raised its stake in shares of Aramark by 31.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,279 shares of the company’s stock worth $311,000 after buying an additional 2,002 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Aramark by 17.0% during the 1st quarter. American Century Companies Inc. now owns 9,139 shares of the company’s stock worth $344,000 after buying an additional 1,325 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Aramark by 35.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock worth $64,000 after buying an additional 447 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Aramark during the 1st quarter worth approximately $174,000. Finally, BlackRock Inc. raised its stake in shares of Aramark by 1.7% during the 1st quarter. BlackRock Inc. now owns 11,897,847 shares of the company’s stock worth $447,358,000 after buying an additional 198,530 shares in the last quarter.

Aramark Company Profile

(Get Rating)

Aramark engages in the provision of food, facilities, and uniform services. It operates through the following segments: Food and Support Services United States (FSS United States), Food and Support Services International (FSS International), and Uniform. The FSS United States segment offers food, hospitality and facility services for school districts, colleges and universities, healthcare facilities, businesses, sports, entertainment and recreational venues, conference and convention centers, national and state parks, and correctional institutions.

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Earnings History for Aramark (NYSE:ARMK)

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