Aramark (NYSE:ARMK) Announces Earnings Results

Aramark (NYSE:ARMKGet Rating) released its earnings results on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49, Yahoo Finance reports. Aramark had a return on equity of 8.25% and a net margin of 1.00%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis.

Aramark Price Performance

NYSE:ARMK opened at $40.50 on Thursday. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 66.39, 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 $41.20. The stock has a fifty day moving average of $35.46 and a 200 day moving average of $34.18. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.05 and a current ratio of 1.25.

Aramark Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 21st. Aramark’s payout ratio is currently 72.13%.

Institutional Investors Weigh In On Aramark

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in Aramark by 35.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,693 shares of the company’s stock valued at $64,000 after buying an additional 447 shares during the period. MetLife Investment Management LLC bought a new stake in Aramark during the first quarter valued at $174,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Aramark during the first quarter valued at $200,000. Prudential PLC bought a new stake in Aramark during the first quarter valued at $203,000. Finally, Cetera Investment Advisers bought a new stake in Aramark during the first quarter worth about $211,000.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Aramark from $38.00 to $45.00 in a research report on Wednesday. Morgan Stanley raised their target price on Aramark from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday. StockNews.com assumed coverage on Aramark in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. TheStreet raised Aramark from a “c” rating to a “b-” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Aramark from $40.00 to $43.00 in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Aramark has a consensus rating of “Hold” and a consensus price target of $41.67.

About Aramark

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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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