Aramark (ARMK) Issues FY17 Earnings Guidance
Aramark (NYSE:ARMK) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $1.90-2.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.96.
Several research analysts have recently commented on the company. BidaskClub downgraded Aramark from a hold rating to a sell rating in a research note on Friday, July 28th. Zacks Investment Research downgraded Aramark from a buy rating to a hold rating in a research note on Tuesday, July 11th. Barclays PLC lifted their target price on Aramark from $37.00 to $39.00 and gave the stock an equal weight rating in a research note on Friday, June 23rd. Finally, Deutsche Bank AG lifted their price target on Aramark from $42.00 to $48.00 and gave the stock a buy rating in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Aramark has an average rating of Buy and an average price target of $42.90.
Aramark (ARMK) opened at 39.80 on Tuesday. The firm has a 50-day moving average price of $40.54 and a 200 day moving average price of $37.34. Aramark has a one year low of $32.73 and a one year high of $41.72. The firm has a market capitalization of $9.72 billion, a PE ratio of 30.57 and a beta of 0.48.
Aramark (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. Aramark had a return on equity of 19.13% and a net margin of 2.23%. The firm had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period last year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Aramark will post $1.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Wednesday, August 16th will be given a $0.103 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.04%. Aramark’s dividend payout ratio (DPR) is presently 31.78%.
In other news, EVP Stephen R. Reynolds sold 30,000 shares of Aramark stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $40.41, for a total value of $1,212,300.00. Following the transaction, the executive vice president now owns 62,460 shares in the company, valued at $2,524,008.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $37.15, for a total value of $111,450.00. Following the completion of the transaction, the vice president now owns 2,871 shares in the company, valued at approximately $106,657.65. The disclosure for this sale can be found here. Insiders have sold 143,629 shares of company stock worth $5,618,413 in the last 90 days. Company insiders own 2.90% of the company’s stock.
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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).
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