Aramark (ARMK) to Release Earnings on Tuesday

Aramark (NYSE:ARMK) is scheduled to be issuing its quarterly earnings data 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.Investors interested in listening to the company’s conference call can do so using this link.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.29 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 12.6% on a year-over-year basis. On average, analysts expect Aramark to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Aramark Price Performance

ARMK stock opened at $30.92 on Monday. The company has a market capitalization of $8.11 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company’s fifty day moving average price is $31.61 and its 200-day moving average price is $29.47. Aramark has a one year low of $23.95 and a one year high of $33.04. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.12 and a current ratio of 1.27.

Aramark Dividend Announcement

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

Wall Street Analyst Weigh In

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