Aramark (ARMK) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Aramark (NYSE:ARMK) issued its quarterly earnings results on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.02, Bloomberg Earnings reports. Aramark had a return on equity of 19.69% and a net margin of 2.56%. The company had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company posted $0.49 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Aramark updated its FY18 guidance to $2.10-2.20 EPS.
Shares of Aramark (NYSE ARMK) opened at $39.83 on Thursday. The firm has a market capitalization of $9,809.11, a price-to-earnings ratio of 22.61, a P/E/G ratio of 1.66 and a beta of 0.50. Aramark has a 52-week low of $32.87 and a 52-week high of $44.12. The company has a current ratio of 1.30, a quick ratio of 1.00 and a debt-to-equity ratio of 2.34.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Monday, November 27th will be given a dividend of $0.105 per share. The ex-dividend date is Friday, November 24th. This represents a $0.42 dividend on an annualized basis and a yield of 1.05%. This is a positive change from Aramark’s previous quarterly dividend of $0.10. Aramark’s payout ratio is currently 27.52%.
ARMK has been the topic of several recent analyst reports. BidaskClub lowered Aramark from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Royal Bank Of Canada lifted their price target on Aramark from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Nomura decreased their price target on Aramark from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley lifted their price target on Aramark from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered Aramark from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $44.83.
Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).
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