Aramark (NYSE:ARMK) Issues Quarterly Earnings Results

Aramark (NYSE:ARMKGet Rating) announced its quarterly earnings data on Tuesday. The company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49, Yahoo Finance reports. Aramark had a return on equity of 10.70% and a net margin of 1.19%. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the firm posted $0.21 earnings per share. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year.

Aramark Stock Down 0.1 %

ARMK stock opened at $40.50 on Thursday. Aramark has a 1-year low of $28.74 and a 1-year high of $41.20. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 53.29, a price-to-earnings-growth ratio of 0.57 and a beta of 1.66. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 2.77. The company’s 50 day moving average is $35.46 and its 200 day moving average is $34.18.

Aramark Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, November 21st. Aramark’s payout ratio is 57.90%.

Institutional Trading of Aramark

A number of hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors raised its stake in shares of Aramark by 35.5% during the third quarter. Captrust Financial Advisors now owns 142,944 shares of the company’s stock worth $4,460,000 after acquiring an additional 37,485 shares in the last quarter. BNP Paribas Arbitrage SNC increased its holdings in shares of Aramark by 51.1% in the third quarter. BNP Paribas Arbitrage SNC now owns 99,789 shares of the company’s stock worth $3,113,000 after buying an additional 33,769 shares during the period. State Street Corp lifted its stake in shares of Aramark by 2.5% in the 3rd quarter. State Street Corp now owns 4,894,472 shares of the company’s stock valued at $152,708,000 after acquiring an additional 121,578 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Aramark by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,344 shares of the company’s stock valued at $3,630,000 after acquiring an additional 917 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Aramark during the 3rd quarter worth approximately $560,000.

Analyst Ratings Changes

ARMK has been the subject of a number of recent analyst reports. TheStreet raised shares of Aramark from a “c” rating to a “b-” rating in a research report on Tuesday. Jefferies Financial Group reissued a “hold” rating and issued a $36.00 price objective on shares of Aramark in a research report on Tuesday, October 25th. StockNews.com started coverage on Aramark in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley boosted their price target on shares of Aramark from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on shares of Aramark from $38.00 to $45.00 in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $41.67.

Aramark Company Profile

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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.

Further Reading

Earnings History for Aramark (NYSE:ARMK)

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