Aramark (ARMK) Expected to Announce Quarterly Sales of $4.01 Billion

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Analysts predict that Aramark (NYSE:ARMK) will announce sales of $4.01 billion for the current quarter, according to Zacks. Twelve analysts have made estimates for Aramark’s earnings. The lowest sales estimate is $3.95 billion and the highest is $4.08 billion. Aramark posted sales of $3.94 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.8%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 14th.

According to Zacks, analysts expect that Aramark will report full-year sales of $16.26 billion for the current financial year, with estimates ranging from $16.02 billion to $16.39 billion. For the next financial year, analysts anticipate that the company will post sales of $16.78 billion, with estimates ranging from $16.65 billion to $16.99 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Aramark.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, February 5th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Aramark had a return on equity of 17.81% and a net margin of 3.27%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year.

Several analysts have recently weighed in on ARMK shares. Bank of America started coverage on Aramark in a report on Tuesday, October 23rd. They issued a “buy” rating and a $49.00 price objective for the company. Barclays cut their price objective on Aramark from $47.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, October 24th. ValuEngine lowered Aramark from a “hold” rating to a “sell” rating in a report on Friday, October 26th. Zacks Investment Research lowered Aramark from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. Finally, Robert W. Baird upgraded Aramark from a “neutral” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $42.27.

In other news, Director Stephen I. Sadove bought 6,000 shares of the company’s stock in a transaction on Thursday, December 13th. The shares were bought at an average cost of $32.72 per share, with a total value of $196,320.00. Following the transaction, the director now directly owns 37,314 shares in the company, valued at approximately $1,220,914.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric J. Foss bought 92,564 shares of the company’s stock in a transaction on Wednesday, December 12th. The stock was purchased at an average cost of $32.46 per share, for a total transaction of $3,004,627.44. Following the completion of the transaction, the chief executive officer now owns 1,679,407 shares in the company, valued at $54,513,551.22. The disclosure for this purchase can be found here. Corporate insiders own 3.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of ARMK. FMR LLC increased its position in Aramark by 6.4% in the 2nd quarter. FMR LLC now owns 13,946,218 shares of the company’s stock worth $517,404,000 after purchasing an additional 838,390 shares during the last quarter. State of Alaska Department of Revenue increased its position in Aramark by 5.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 61,425 shares of the company’s stock worth $2,642,000 after purchasing an additional 3,254 shares during the last quarter. DNB Asset Management AS increased its position in Aramark by 8.8% in the 3rd quarter. DNB Asset Management AS now owns 34,700 shares of the company’s stock worth $1,493,000 after purchasing an additional 2,800 shares during the last quarter. Bank of Montreal Can increased its position in Aramark by 43.1% in the 3rd quarter. Bank of Montreal Can now owns 14,275 shares of the company’s stock worth $615,000 after purchasing an additional 4,298 shares during the last quarter. Finally, First Manhattan Co. increased its position in Aramark by 0.9% in the 3rd quarter. First Manhattan Co. now owns 5,724,294 shares of the company’s stock worth $246,259,000 after purchasing an additional 50,846 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

NYSE:ARMK opened at $31.41 on Tuesday. Aramark has a 1 year low of $27.37 and a 1 year high of $43.70. The firm has a market capitalization of $7.88 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.49 and a beta of 1.20. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 2.28.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 14th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, February 13th. Aramark’s dividend payout ratio is 22.11%.

Aramark Company Profile

Aramark provides food, facilities management, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. It operates in three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel.

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