$3.90 Billion in Sales Expected for Aramark (ARMK) This Quarter

Equities research analysts predict that Aramark (NYSE:ARMK) will report sales of $3.90 billion for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Aramark’s earnings. The highest sales estimate is $4.00 billion and the lowest is $3.78 billion. Aramark reported sales of $3.62 billion during the same quarter last year, which would suggest a positive year over year growth rate of 7.7%. The firm is scheduled to announce its next earnings report on Tuesday, May 8th.

According to Zacks, analysts expect that Aramark will report full-year sales of $15.65 billion for the current year, with estimates ranging from $15.18 billion to $16.01 billion. For the next year, analysts anticipate that the business will report sales of $16.37 billion per share, with estimates ranging from $15.68 billion to $16.90 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Aramark.

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Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Aramark had a return on equity of 18.68% and a net margin of 3.65%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS.

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reissued a “buy” rating and set a $50.00 price target on shares of Aramark in a report on Wednesday, February 7th. Morgan Stanley increased their price target on Aramark from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Credit Suisse Group reissued an “outperform” rating and set a $50.00 price target on shares of Aramark in a report on Wednesday, January 24th. Barclays increased their price target on Aramark from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Saturday, December 30th. Finally, Stifel Nicolaus assumed coverage on Aramark in a report on Tuesday, December 19th. They set a “buy” rating and a $50.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $47.43.

A number of institutional investors have recently made changes to their positions in ARMK. Millennium Management LLC raised its holdings in Aramark by 242.1% in the 4th quarter. Millennium Management LLC now owns 2,095,827 shares of the company’s stock worth $89,576,000 after purchasing an additional 1,483,192 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in Aramark by 5,269.3% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 489,517 shares of the company’s stock worth $1,075,000 after buying an additional 480,400 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Aramark in the 4th quarter worth $17,467,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Aramark in the 4th quarter worth $15,714,000. Finally, First Manhattan Co. increased its stake in Aramark by 7.4% in the 4th quarter. First Manhattan Co. now owns 5,187,057 shares of the company’s stock worth $221,694,000 after buying an additional 355,984 shares in the last quarter. 94.69% of the stock is currently owned by institutional investors.

Shares of NYSE ARMK traded up $0.34 during midday trading on Wednesday, hitting $37.78. 1,047,290 shares of the stock traded hands, compared to its average volume of 1,309,114. The stock has a market capitalization of $9,203.93, a price-to-earnings ratio of 21.34, a PEG ratio of 1.57 and a beta of 0.64. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.40 and a quick ratio of 1.09. Aramark has a one year low of $36.15 and a one year high of $46.09.

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About Aramark

Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in North America and internationally. The company operates through three segments: Food and Support Services North America, Food and Support Services International, Uniform and Career Apparel.

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