Aramark (ARMK) to Release Quarterly Earnings on Tuesday

Aramark (NYSE:ARMK) is scheduled to 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 Price Performance

Shares of NYSE:ARMK opened at $30.92 on Friday. Aramark has a one year low of $23.95 and a one year high of $33.04. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 12.94, a PEG 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 $29.45. 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ARMK shares. 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 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $33.00 price target on shares of Aramark in a research note on Wednesday, February 7th. Truist Financial increased their price target on shares of Aramark from $35.00 to $37.00 and gave the stock 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 report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Aramark currently has an average rating of “Moderate Buy” and an average target price 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.