Aramark (NYSE:ARMK) Releases FY 2024 Earnings Guidance

Aramark (NYSE:ARMK) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 1.570- for the period, compared to the consensus earnings per share estimate of 1.570. The company issued revenue guidance of -.

Aramark Stock Up 0.5 %

ARMK opened at $33.22 on Wednesday. The stock has a market capitalization of $8.74 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.11 and a current ratio of 1.25. Aramark has a one year low of $23.95 and a one year high of $34.72. The business’s 50-day simple moving average is $33.21 and its 200-day simple moving average is $31.96.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.31 billion. Aramark had a return on equity of 13.82% and a net margin of 3.43%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts anticipate that Aramark will post 1.57 EPS for the current year.

Aramark Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 1.14%. Aramark’s payout ratio is 15.97%.

Analyst Ratings Changes

ARMK has been the subject of several analyst reports. Oppenheimer upped their price target on Aramark from $36.00 to $39.00 and gave the stock an outperform rating in a research note on Wednesday, June 12th. UBS Group upped their price objective on shares of Aramark from $35.00 to $40.00 and gave the stock a buy rating in a research report on Friday, June 21st. Robert W. Baird lifted their target price on shares of Aramark from $35.00 to $37.00 and gave the company a neutral rating in a report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Aramark from a hold rating to a buy rating and increased their price target for the stock from $36.00 to $39.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Aramark currently has an average rating of Moderate Buy and an average target price of $35.17.

About Aramark

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.