Aramark (NYSE:ARMK) released its quarterly earnings data on Tuesday, November 13th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03, Bloomberg Earnings reports. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.96 billion. Aramark had a net margin of 3.60% and a return on equity of 17.76%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS.
Shares of Aramark stock traded down $0.92 during trading on Wednesday, reaching $37.50. The company’s stock had a trading volume of 3,923,151 shares, compared to its average volume of 3,960,763. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.17 and a quick ratio of 0.87. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.38 and a beta of 0.89. Aramark has a fifty-two week low of $33.98 and a fifty-two week high of $46.09.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Monday, November 26th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.17%. This is a boost from Aramark’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, November 23rd. Aramark’s payout ratio is presently 22.11%.
A number of equities research analysts have recently commented on ARMK shares. Zacks Investment Research cut shares of Aramark from a “hold” rating to a “sell” rating in a research report on Thursday, November 29th. ValuEngine upgraded shares of Aramark from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Nomura lowered their target price on shares of Aramark from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, November 15th. Morgan Stanley increased their target price on shares of Aramark from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Wednesday, August 8th. Finally, Royal Bank of Canada initiated coverage on shares of Aramark in a research note on Monday, November 19th. They issued an “outperform” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $47.30.
Institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc increased its stake in Aramark by 985.5% in the 3rd quarter. IFP Advisors Inc now owns 2,399 shares of the company’s stock valued at $103,000 after buying an additional 2,178 shares during the period. Squar Milner Financial Services LLC purchased a new stake in shares of Aramark during the 2nd quarter worth $105,000. FNY Investment Advisers LLC purchased a new stake in shares of Aramark during the 2nd quarter worth $148,000. Point72 Hong Kong Ltd purchased a new stake in shares of Aramark during the 2nd quarter worth $161,000. Finally, Captrust Financial Advisors boosted its position in shares of Aramark by 236.4% during the 3rd quarter. Captrust Financial Advisors now owns 4,413 shares of the company’s stock worth $190,000 after purchasing an additional 3,101 shares in the last quarter. 99.63% of the stock is currently owned by institutional investors.
Aramark Company Profile
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.
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