Brokerages Expect Aramark (ARMK) Will Announce Quarterly Sales of $3.70 Billion
Brokerages expect that Aramark (NYSE:ARMK) will announce $3.70 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Aramark’s earnings, with the highest sales estimate coming in at $3.74 billion and the lowest estimate coming in at $3.67 billion. Aramark reported sales of $3.54 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The firm is scheduled to issue its next earnings report on Tuesday, November 21st.
According to Zacks, analysts expect that Aramark will report full year sales of $3.70 billion for the current financial year, with estimates ranging from $14.62 billion to $14.70 billion. For the next fiscal year, analysts forecast that the firm will post sales of $15.20 billion per share, with estimates ranging from $15.10 billion to $15.31 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Aramark.
Aramark (NYSE:ARMK) last issued its earnings results on Tuesday, August 8th. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Aramark’s revenue was up .2% on a year-over-year basis.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded Aramark from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Friday, May 12th. BidaskClub cut Aramark from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 7th. Deutsche Bank AG raised their price objective on Aramark from $42.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. Morgan Stanley raised their price objective on Aramark from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Finally, Barclays PLC raised their price objective on Aramark from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.00.
In other Aramark news, EVP Stephen R. Reynolds sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 62,460 shares of the company’s stock, valued at $2,524,008.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP James J. Tarangelo sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $37.15, for a total value of $111,450.00. Following the completion of the sale, the vice president now directly owns 2,871 shares in the company, valued at $106,657.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,629 shares of company stock valued at $5,618,413. 2.90% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of ARMK. Toronto Dominion Bank raised its stake in shares of Aramark by 19.0% in the second quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock valued at $124,000 after buying an additional 483 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Aramark by 9.9% in the second quarter. Advisory Services Network LLC now owns 7,930 shares of the company’s stock valued at $325,000 after buying an additional 713 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Aramark during the second quarter valued at approximately $341,000. Public Employees Retirement System of Ohio raised its stake in shares of Aramark by 2.0% in the second quarter. Public Employees Retirement System of Ohio now owns 173,441 shares of the company’s stock valued at $7,108,000 after buying an additional 3,397 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in shares of Aramark during the second quarter valued at approximately $1,229,000. 95.72% of the stock is currently owned by institutional investors.
Shares of Aramark (ARMK) opened at 39.01 on Tuesday. The stock’s 50 day moving average is $39.99 and its 200 day moving average is $37.93. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 28.27 and a beta of 0.48. Aramark has a 52-week low of $32.73 and a 52-week high of $41.72.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Wednesday, August 16th will be given a dividend of $0.103 per share. This represents a $0.41 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, August 14th. Aramark’s dividend payout ratio is currently 29.93%.
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Aramark Company Profile
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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