Aramark (ARMK) to Release Quarterly Earnings on Tuesday

Aramark (NYSE:ARMK - Get Free Report) is scheduled to be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect Aramark to post earnings of $0.26 per share for the quarter. Aramark has set its FY 2024 guidance at 1.510-1.570 EPS.Persons that are interested in registering for the company's earnings conference call can do so using this link.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.05. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the company earned $0.41 earnings per share. The business's quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts expect Aramark to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Aramark Stock Down 2.9 %

NYSE ARMK traded down $0.93 during trading hours on Tuesday, reaching $31.51. 1,960,313 shares of the company traded hands, compared to its average volume of 2,420,377. The stock has a market capitalization of $8.27 billion, a PE ratio of 13.40, a PEG ratio of 1.30 and a beta of 1.48. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. Aramark has a 12 month low of $23.95 and a 12 month high of $33.04. The company has a 50 day moving average of $31.59 and a two-hundred day moving average of $29.34.

Aramark Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 13th will be paid a $0.095 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.21%. Aramark's dividend payout ratio (DPR) is presently 15.90%.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARMK. The Goldman Sachs Group initiated coverage on Aramark in a report on Wednesday, January 17th. They set a "buy" rating and a $33.00 target price on the stock. Truist Financial increased their target price on shares of Aramark from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Morgan Stanley lifted their price target on shares of Aramark from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Wednesday, February 7th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $33.00 price objective on shares of Aramark in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.04.

Aramark Company Profile

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.