Aramark Announces Quarterly Dividend of $0.00 (NYSE:ARMK)

Aramark (NYSE:ARMK) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.001 per share on Thursday, December 12th. This represents a $0.00 dividend on an annualized basis and a dividend yield of 0.01%. The ex-dividend date is Monday, December 2nd.

Aramark has decreased its dividend by an average of 1.2% per year over the last three years. Aramark has a dividend payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Aramark to earn $2.29 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 18.3%.

Aramark Trading Down 0.1 %

Shares of Aramark stock opened at $40.71 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42. The stock has a fifty day simple moving average of $38.68 and a 200 day simple moving average of $35.81. Aramark has a 12-month low of $26.58 and a 12-month high of $42.49. The company has a market capitalization of $10.75 billion, a P/E ratio of 41.12 and a beta of 1.62.

Aramark (NYSE:ARMK) last announced its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. Aramark had a net margin of 1.51% and a return on equity of 14.06%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Aramark will post 1.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ARMK. Truist Financial upped their price objective on Aramark from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their price target on shares of Aramark from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $42.50 in a research report on Tuesday, September 17th. Finally, Morgan Stanley upped their price target on Aramark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.23.

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.