Aramark (NYSE:ARMK) Issues FY 2024 Earnings Guidance

Aramark (NYSE:ARMK) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.510-1.570 for the period, compared to the consensus earnings per share estimate of 1.560. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARMK. Royal Bank of Canada restated a sector perform rating and issued a $33.00 price target on shares of Aramark in a research note on Wednesday, February 7th. Robert W. Baird upped their price target on Aramark from $35.00 to $37.00 and gave the stock a neutral rating in a research note on Wednesday. The Goldman Sachs Group began coverage on Aramark in a research note on Wednesday, January 17th. They issued a buy rating and a $33.00 price target for the company. Truist Financial upped their price target on 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 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $33.32.

Aramark Stock Performance

Shares of Aramark stock traded up $0.94 on Wednesday, reaching $31.69. 2,650,005 shares of the stock were exchanged, compared to its average volume of 2,475,322. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. Aramark has a twelve month low of $23.95 and a twelve month high of $33.04. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.24 and a beta of 1.47. The business has a 50 day moving average price of $31.64 and a two-hundred day moving average price of $29.54.

Aramark (NYSE:ARMK) last released its 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 during the quarter, compared to the consensus estimate of $4.29 billion. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The company’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. Analysts anticipate that Aramark will post 1.56 earnings per share for the current fiscal year.

Aramark Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be paid 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 1.20%. Aramark’s dividend payout ratio (DPR) is currently 15.90%.

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.