Aramark (ARMK) to Issue Quarterly Dividend of $0.11 on February 24th

Aramark (NYSE:ARMK) declared a quarterly dividend on Monday, January 27th,NASDAQ Dividends reports. Investors of record on Monday, February 10th will be paid a dividend of 0.105 per share on Monday, February 24th. This represents a $0.42 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, February 10th. This is an increase from Aramark’s previous quarterly dividend of $0.001.

Aramark has decreased its dividend payment by an average of 3.9% per year over the last three years. Aramark has a payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Aramark to earn $2.27 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 18.5%.

Aramark Trading Up 0.1 %

Shares of ARMK opened at $38.07 on Friday. The company’s fifty day simple moving average is $38.61 and its 200-day simple moving average is $37.70. The company has a market cap of $10.08 billion, a P/E ratio of 38.45 and a beta of 1.64. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. Aramark has a twelve month low of $28.51 and a twelve month high of $42.49.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The firm had revenue of $4.55 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter last year, the firm earned $0.41 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Aramark will post 1.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus increased their target price on shares of Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Truist Financial boosted their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley increased their price objective on Aramark from $40.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of Aramark in a research note on Thursday. Finally, StockNews.com lowered shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.