Aramark (ARMK) to Issue Quarterly Dividend of $0.10 on May 28th

Aramark (NYSE:ARMK) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.095 per share on Tuesday, May 28th. This represents a $0.38 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, May 10th.

Aramark has decreased its dividend payment by an average of 1.2% annually over the last three years. Aramark has a dividend payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Aramark to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 19.3%.

Aramark Trading Down 2.8 %

ARMK stock opened at $31.52 on Wednesday. Aramark has a 12 month low of $23.95 and a 12 month high of $33.04. The firm’s 50-day moving average is $31.61 and its 200 day moving average is $29.38. The company has a market capitalization of $8.27 billion, a PE ratio of 13.19, a P/E/G ratio of 1.30 and a beta of 1.48. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 1.12.

Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.05. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Aramark will post 1.56 EPS for the current year.

Analysts Set New Price Targets

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