Aramark (ARMK) Expected to Announce Quarterly Sales of $4.29 Billion

Equities research analysts predict that Aramark (NYSE:ARMK) will post $4.29 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Aramark’s earnings, with estimates ranging from $4.24 billion to $4.36 billion. Aramark reported sales of $3.97 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The company is expected to announce its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Aramark will report full year sales of $16.49 billion for the current year, with estimates ranging from $16.27 billion to $16.71 billion. For the next fiscal year, analysts forecast that the firm will report sales of $17.02 billion, with estimates ranging from $16.67 billion to $17.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Aramark.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, November 13th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Aramark had a return on equity of 18.15% and a net margin of 3.60%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS.

Several equities analysts recently issued reports on the company. Nomura lowered their price objective on Aramark from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on Aramark from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday. Robert W. Baird raised Aramark from a “neutral” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Wednesday. Zacks Investment Research cut Aramark from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine cut Aramark from a “hold” rating to a “sell” rating in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.90.

ARMK stock traded up $0.15 during midday trading on Friday, hitting $36.89. The company’s stock had a trading volume of 4,419,200 shares, compared to its average volume of 1,734,420. The stock has a market capitalization of $8.74 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.19 and a beta of 0.88. Aramark has a 12 month low of $33.98 and a 12 month high of $46.09. The company has a current ratio of 1.36, a quick ratio of 1.03 and a debt-to-equity ratio of 2.74.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 23rd. This is a positive change from Aramark’s previous quarterly dividend of $0.11. This represents a $0.44 dividend on an annualized basis and a yield of 1.19%. Aramark’s payout ratio is currently 21.11%.

In other Aramark news, EVP Stephen R. Reynolds sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $41.33, for a total transaction of $619,950.00. Following the completion of the sale, the executive vice president now directly owns 47,058 shares in the company, valued at approximately $1,944,907.14. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.90% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in shares of Aramark by 6.9% in the 1st quarter. Principal Financial Group Inc. now owns 863,967 shares of the company’s stock worth $34,178,000 after purchasing an additional 55,543 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Aramark by 1,148.8% in the 1st quarter. Allianz Asset Management GmbH now owns 85,290 shares of the company’s stock worth $3,374,000 after purchasing an additional 78,460 shares in the last quarter. DnB Asset Management AS increased its stake in shares of Aramark by 6.3% in the 2nd quarter. DnB Asset Management AS now owns 31,900 shares of the company’s stock worth $1,183,000 after purchasing an additional 1,900 shares in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Aramark by 55.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 11,681 shares of the company’s stock worth $433,000 after purchasing an additional 4,186 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Aramark by 24.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 58,171 shares of the company’s stock worth $2,157,000 after purchasing an additional 11,490 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Aramark Company Profile

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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