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%.

ILLEGAL ACTIVITY NOTICE: This article was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/08/22/brokerages-expect-aramark-armk-will-announce-quarterly-sales-of-3-70-billion.html.

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).

Get a free copy of the Zacks research report on Aramark (ARMK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Aramark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aramark and related companies with MarketBeat.com's FREE daily email newsletter.