Aramark (NYSE:ARMK) Announces $0.10 Quarterly Dividend

Aramark (NYSE:ARMK) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Investors of record on Monday, May 13th will be given a dividend of 0.095 per share on Tuesday, May 28th. This represents a $0.38 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, May 10th.

Aramark has decreased its dividend by an average of 1.2% per year over the last three years. Aramark has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aramark to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 19.3%.

Aramark Stock Performance

Shares of ARMK opened at $31.87 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The stock has a market cap of $8.36 billion, a P/E ratio of 13.33, a PEG ratio of 1.24 and a beta of 1.47. The company has a 50-day moving average of $31.66 and a two-hundred day moving average of $29.55. Aramark has a 12-month low of $23.95 and a 12-month high of $33.04.

Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. As a group, research analysts predict that Aramark will post 1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ARMK. Truist Financial boosted their price objective on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $33.00 price objective on shares of Aramark in a research report on Wednesday, February 7th. Morgan Stanley boosted their price objective on shares of Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group started coverage on shares of Aramark in a report on Wednesday, January 17th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Robert W. Baird boosted 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. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.32.

Aramark Company Profile

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.