Aramark (NYSE:ARMK) Releases Quarterly Earnings Results, Meets Estimates

Aramark (NYSE:ARMKGet Rating) announced its quarterly earnings results on Tuesday. The company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49, Yahoo Finance reports. Aramark had a net margin of 1.19% and a return on equity of 10.70%. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the business posted $0.21 EPS. Aramark’s quarterly revenue was up 23.6% on a year-over-year basis.

Aramark Price Performance

NYSE:ARMK opened at $40.50 on Thursday. Aramark has a 52 week low of $28.74 and a 52 week high of $41.20. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 53.29, a PEG ratio of 0.57 and a beta of 1.66. The company has a 50-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 Announces Dividend

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 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 57.90%.

Hedge Funds Weigh In On Aramark

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Aramark in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Morgan Stanley raised their target price on shares of Aramark from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Wednesday. TheStreet upgraded shares of Aramark from a “c” rating to a “b-” rating in a research note on Tuesday. Jefferies Financial Group reissued a “hold” rating and issued a $36.00 price target on shares of Aramark in a report on Tuesday, October 25th. Finally, Royal Bank of Canada increased their price target on shares of Aramark from $38.00 to $45.00 in a report on Wednesday. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.67.

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.

Further Reading

Earnings History for Aramark (NYSE:ARMK)

Receive News & Ratings for Aramark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aramark and related companies with MarketBeat.com's FREE daily email newsletter.