Aramark (ARMK) Announces Quarterly Earnings Results

Aramark (NYSE:ARMK) released its quarterly earnings results on Tuesday, February 6th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03, Morningstar.com reports. Aramark had a net margin of 3.65% and a return on equity of 18.68%. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter last year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Aramark updated its FY18 guidance to $2.15-2.30 EPS.

Aramark (NYSE:ARMK) traded up $0.58 during trading hours on Thursday, reaching $41.73. The company had a trading volume of 49,744 shares, compared to its average volume of 1,382,474. The firm has a market capitalization of $10,054.51, a price-to-earnings ratio of 19.14, a P/E/G ratio of 1.73 and a beta of 0.51. Aramark has a 1 year low of $35.44 and a 1 year high of $46.09. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 2.56.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 14th will be issued a dividend of $0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, February 13th. Aramark’s payout ratio is currently 19.53%.

Several brokerages recently issued reports on ARMK. Royal Bank of Canada restated a “buy” rating and set a $50.00 price objective on shares of Aramark in a research note on Wednesday, February 7th. Morgan Stanley raised their price objective on Aramark from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 target price on shares of Aramark in a research note on Wednesday, January 24th. Barclays raised their target price on Aramark from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Saturday, December 30th. Finally, Stifel Nicolaus assumed coverage on Aramark in a research note on Tuesday, December 19th. They issued a “buy” rating and a $50.00 target price on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Aramark has a consensus rating of “Buy” and a consensus target price of $47.00.

A number of institutional investors and hedge funds have recently modified their holdings of ARMK. Profund Advisors LLC purchased a new position in Aramark in the 2nd quarter worth about $219,000. Renaissance Technologies LLC increased its stake in Aramark by 341.6% in the 2nd quarter. Renaissance Technologies LLC now owns 631,900 shares of the company’s stock worth $25,895,000 after purchasing an additional 488,800 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Aramark by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,480,505 shares of the company’s stock worth $60,669,000 after purchasing an additional 147,313 shares in the last quarter. Stifel Financial Corp purchased a new position in Aramark in the 2nd quarter worth about $494,000. Finally, HighTower Advisors LLC purchased a new position in Aramark in the 2nd quarter worth about $208,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

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Aramark Company Profile

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).

Earnings History for Aramark (NYSE:ARMK)

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