Aramark (ARMK) Issues FY17 Earnings Guidance

Aramark (NYSE:ARMK) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.90-2.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.96.

Several brokerages recently commented on ARMK. BidaskClub cut Aramark from a sell rating to a strong sell rating in a research report on Saturday, August 12th. Nomura restated a buy rating and issued a $45.00 target price (up from $43.00) on shares of Aramark in a report on Wednesday, August 9th. Morgan Stanley upped their target price on Aramark from $39.00 to $40.00 and gave the company an equal weight rating in a report on Thursday, August 10th. Zacks Investment Research cut Aramark from a buy rating to a hold rating in a report on Tuesday, May 9th. Finally, Barclays PLC upped their target price on Aramark from $37.00 to $39.00 and gave the company an equal weight rating in a report on Friday, June 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $43.00.

Shares of Aramark (NYSE ARMK) traded up 0.44% during trading on Friday, hitting $39.08. The stock had a trading volume of 1,323,186 shares. The company has a market cap of $9.58 billion, a PE ratio of 28.32 and a beta of 0.48. The stock’s 50 day moving average is $40.05 and its 200-day moving average is $37.83. Aramark has a 12-month low of $32.73 and a 12-month high of $41.72.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.61 billion. Aramark had a return on equity of 19.29% and a net margin of 2.37%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Analysts forecast that Aramark will post $1.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Wednesday, August 16th will be given a $0.103 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, August 14th. Aramark’s dividend payout ratio is currently 29.93%.

In related news, SVP Brian P. Pressler sold 10,629 shares of Aramark stock in a transaction on Friday, June 16th. The stock was sold at an average price of $40.80, for a total value of $433,663.20. Following the transaction, the senior vice president now owns 14,285 shares in the company, valued at $582,828. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James J. Tarangelo sold 3,000 shares of Aramark stock in a transaction 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 transaction, the vice president now owns 2,871 shares in the company, valued at approximately $106,657.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,629 shares of company stock valued at $5,618,413. Company insiders own 2.90% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first posted by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of international trademark and copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2017/08/19/aramark-armk-updates-fy17-earnings-guidance-updated.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).

What are top analysts saying about Aramark? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Aramark and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit