Oppenheimer Equities Analysts Reduce Earnings Estimates for Aramark (NYSE:ARMK)

Aramark (NYSE:ARMKGet Rating) – Investment analysts at Oppenheimer reduced their FY2022 earnings per share (EPS) estimates for shares of Aramark in a report released on Tuesday, May 10th. Oppenheimer analyst I. Zaffino now forecasts that the company will post earnings of $1.15 per share for the year, down from their prior forecast of $1.29. Oppenheimer has a “Outperform” rating and a $45.00 price objective on the stock.

Aramark (NYSE:ARMKGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Aramark had a net margin of 1.02% and a return on equity of 6.53%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted ($0.24) EPS. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Aramark in a report on Tuesday, March 29th. They issued a “hold” rating and a $38.00 price target for the company. Zacks Investment Research downgraded Aramark from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 12th. Bank of America started coverage on Aramark in a report on Friday, March 11th. They issued a “buy” rating for the company. Finally, StockNews.com assumed coverage on shares of Aramark in a report on Thursday, March 31st. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $39.38.

Shares of ARMK opened at $32.30 on Friday. Aramark has a 1 year low of $31.22 and a 1 year high of $39.95. The company’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $36.20. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 55.69, a PEG ratio of 0.82 and a beta of 1.78. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.06 and a current ratio of 1.23.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Wednesday, May 18th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, May 17th. Aramark’s dividend payout ratio (DPR) is presently 75.86%.

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in Aramark by 108.4% in the 1st quarter. CWM LLC now owns 667 shares of the company’s stock worth $25,000 after acquiring an additional 347 shares during the period. Allworth Financial LP acquired a new position in shares of Aramark during the first quarter worth $28,000. Eagle Bay Advisors LLC boosted its stake in shares of Aramark by 75.1% in the third quarter. Eagle Bay Advisors LLC now owns 942 shares of the company’s stock valued at $30,000 after purchasing an additional 404 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Aramark by 118.3% in the third quarter. First Horizon Advisors Inc. now owns 1,004 shares of the company’s stock valued at $46,000 after purchasing an additional 544 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in Aramark during the 3rd quarter valued at $54,000.

About Aramark (Get Rating)

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

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Earnings History and Estimates for Aramark (NYSE:ARMK)

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