Aramark (ARMK) To Go Ex-Dividend on May 10th

Aramark (NYSE:ARMK) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.095 per share on Tuesday, May 28th. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, May 10th.

Aramark has decreased its dividend payment by an average of 1.2% annually over the last three years. Aramark has a payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Aramark to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 19.3%.

Aramark Stock Down 2.8 %

Shares of NYSE:ARMK opened at $30.75 on Wednesday. The company has a fifty day moving average of $31.64 and a 200-day moving average of $29.54. The company has a market capitalization of $8.07 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.12 and a current ratio of 1.27. Aramark has a 52-week low of $23.95 and a 52-week high of $33.04.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The business 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%. Aramark’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. On average, equities analysts predict that Aramark will post 1.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial increased their price target on Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Morgan Stanley increased their price objective on shares of Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Aramark in a research report on Wednesday, January 17th. They set a “buy” rating and a $33.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.04.

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.