Aramark (ARMK) Updates FY19 Earnings Guidance

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Aramark (NYSE:ARMK) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.27-2.37 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.50.

NYSE ARMK opened at $32.11 on Thursday. Aramark has a 12 month low of $30.78 and a 12 month high of $46.09. The firm has a market capitalization of $7.69 billion, a PE ratio of 16.14, a P/E/G ratio of 1.12 and a beta of 0.89. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.87 and a current ratio of 1.17.

Aramark (NYSE:ARMK) last released its earnings results on Tuesday, November 13th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Aramark had a return on equity of 17.76% and a net margin of 3.60%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Aramark will post 2.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 6th. Stockholders of record on Monday, November 26th were paid a $0.11 dividend. This is a boost from Aramark’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Friday, November 23rd. Aramark’s dividend payout ratio is currently 22.11%.

ARMK has been the topic of several recent analyst reports. Zacks Investment Research raised Aramark from a sell rating to a hold rating in a research report on Wednesday, August 22nd. Nomura increased their price objective on Aramark from $48.00 to $50.00 and gave the company a buy rating in a research report on Friday, September 7th. Morgan Stanley reaffirmed a hold rating and set a $45.00 price objective (up from $44.00) on shares of Aramark in a research report on Thursday, September 13th. Sanford C. Bernstein initiated coverage on Aramark in a research report on Monday, September 17th. They set an outperform rating and a $52.00 price objective on the stock. Finally, Bank of America initiated coverage on Aramark in a research report on Tuesday, October 23rd. They set a buy rating and a $49.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $46.40.

In other Aramark news, CEO Eric J. Foss acquired 92,564 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The shares were bought at an average cost of $32.46 per share, with a total value of $3,004,627.44. Following the completion of the transaction, the chief executive officer now directly owns 1,679,407 shares of the company’s stock, valued at approximately $54,513,551.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.30% of the company’s stock.

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About Aramark

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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