Aramark (NYSE:ARMK) Announces Quarterly Dividend of $0.10

Aramark (NYSE:ARMK) declared a quarterly dividend on Monday, April 29th, NASDAQ reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.095 per share on Tuesday, May 28th. This represents a $0.38 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, May 10th.

Aramark has decreased its dividend payment 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. Research 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 Trading Up 0.3 %

Shares of Aramark stock traded up $0.09 during trading on Monday, reaching $32.45. The company’s stock had a trading volume of 1,573,254 shares, compared to its average volume of 2,425,989. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. Aramark has a 52-week low of $23.95 and a 52-week high of $33.04. The firm’s 50-day moving average is $31.56 and its two-hundred day moving average is $29.29. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.30 and a beta of 1.48.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. Aramark had a net margin of 3.37% and a return on equity of 13.45%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. On average, sell-side analysts anticipate that Aramark will post 1.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARMK. Truist Financial lifted their target price on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Morgan Stanley increased 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 research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $33.00 target price on shares of Aramark in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.04.

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.