Aramark (ARMK) to Release Quarterly Earnings on Tuesday

Aramark (NYSE:ARMK) will be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.26 per share for the quarter. Aramark has set its FY 2024 guidance at 1.510-1.570 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

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

Aramark Stock Performance

ARMK stock opened at $30.92 on Friday. The stock has a market cap of $8.11 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.24 and a beta of 1.47. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.12 and a current ratio of 1.27. The firm has a 50 day simple moving average of $31.61 and a 200 day simple moving average of $29.45. Aramark has a 52 week low of $23.95 and a 52 week high of $33.04.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be given a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, May 10th. Aramark’s payout ratio is currently 15.90%.

Analyst Ratings Changes

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

About Aramark

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.