Aramark (NYSE:ARMK – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.510-1.570 for the period, compared to the consensus EPS estimate of 1.560. The company issued revenue guidance of -.
Wall Street Analyst Weigh In
ARMK has been the subject of a number of analyst reports. Royal Bank of Canada reissued a sector perform rating and set a $33.00 price objective on shares of Aramark in a report on Wednesday, February 7th. Robert W. Baird boosted their price target on shares of Aramark from $35.00 to $37.00 and gave the company a neutral rating in a research report on Wednesday. The Goldman Sachs Group assumed coverage on shares of Aramark in a research note on Wednesday, January 17th. They issued a buy rating and a $33.00 target price for the company. Truist Financial raised their price target on Aramark from $35.00 to $37.00 and gave the company a buy rating in a report on Wednesday, March 20th. Finally, Morgan Stanley boosted their price objective on Aramark from $28.00 to $30.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $33.32.
Check Out Our Latest Stock Analysis on ARMK
Aramark Stock Up 3.1 %
Aramark (NYSE:ARMK – Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.29 billion. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. On average, equities analysts expect that Aramark will post 1.56 EPS for the current year.
Aramark Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 10th. Aramark’s dividend payout ratio (DPR) is currently 15.90%.
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.
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