$3.99 Billion in Sales Expected for Aramark (NYSE:ARMK) This Quarter

Wall Street brokerages expect Aramark (NYSE:ARMK) to post sales of $3.99 billion for the current fiscal quarter, according to Zacks. Twelve analysts have issued estimates for Aramark’s earnings, with estimates ranging from $3.93 billion to $4.05 billion. Aramark reported sales of $3.97 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.5%. The company is expected to issue its next earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Aramark will report full year sales of $16.22 billion for the current year, with estimates ranging from $16.13 billion to $16.32 billion. For the next fiscal year, analysts forecast that the firm will report sales of $16.65 billion, with estimates ranging from $16.40 billion to $16.87 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Aramark.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Aramark had a return on equity of 17.31% and a net margin of 3.27%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS.

ARMK has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Aramark from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a research note on Tuesday, February 12th. Nomura reiterated a “neutral” rating and set a $28.00 price objective (down previously from $46.00) on shares of Aramark in a research note on Monday, March 18th. Morgan Stanley set a $34.00 price objective on Aramark and gave the company a “hold” rating in a research note on Wednesday, May 8th. Finally, ValuEngine upgraded Aramark from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $40.25.

Shares of Aramark stock traded down $0.13 during trading on Wednesday, reaching $34.93. The company’s stock had a trading volume of 1,193,819 shares, compared to its average volume of 3,468,129. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.14 and a quick ratio of 0.97. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.92 and a beta of 0.90. Aramark has a 1-year low of $25.49 and a 1-year high of $43.70.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Wednesday, May 15th. Aramark’s payout ratio is 22.11%.

Hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P boosted its holdings in Aramark by 37.4% in the 4th quarter. Martingale Asset Management L P now owns 12,495 shares of the company’s stock worth $363,000 after buying an additional 3,400 shares during the last quarter. BB&T Securities LLC boosted its holdings in shares of Aramark by 26.9% during the 4th quarter. BB&T Securities LLC now owns 89,449 shares of the company’s stock worth $2,591,000 after purchasing an additional 18,949 shares during the last quarter. Levin Capital Strategies L.P. boosted its holdings in shares of Aramark by 305.6% during the 4th quarter. Levin Capital Strategies L.P. now owns 36,500 shares of the company’s stock worth $1,057,000 after purchasing an additional 27,500 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Aramark by 15.9% during the 4th quarter. Jennison Associates LLC now owns 1,339,923 shares of the company’s stock worth $38,818,000 after purchasing an additional 184,083 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Aramark by 2,467.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,080 shares of the company’s stock worth $609,000 after purchasing an additional 20,259 shares during the last quarter. Institutional investors own 97.33% of the company’s stock.

Aramark Company Profile

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

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