Aramark (NYSE:ARMK) Announces Quarterly Dividend of $0.00

Aramark (NYSE:ARMK) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.001 per share on Thursday, December 12th. This represents a $0.00 annualized dividend and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd.

Aramark has decreased its dividend by an average of 1.2% per year over the last three years. Aramark has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aramark to earn $1.91 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 19.9%.

Aramark Trading Up 0.1 %

Shares of NYSE:ARMK opened at $38.70 on Tuesday. Aramark has a 52-week low of $25.92 and a 52-week high of $42.04. The company has a market capitalization of $10.20 billion, a P/E ratio of 29.52 and a beta of 1.62. The company has a 50-day simple moving average of $38.11 and a 200 day simple moving average of $35.06. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Aramark will post 1.55 earnings per share for the current year.

Analysts Set New Price Targets

ARMK has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank of Canada upgraded shares of Aramark from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. The Goldman Sachs Group boosted their price objective on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Bank of America raised their target price on Aramark from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Aramark from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.15.

About Aramark

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.