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

Aramark (NYSE:ARMK) announced a quarterly dividend on Monday, April 29th, NASDAQ reports. Shareholders 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 1.21%. The ex-dividend date is Friday, May 10th.

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 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 Price Performance

Shares of NYSE ARMK opened at $31.52 on Wednesday. The stock has a market cap of $8.27 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.30 and a beta of 1.48. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. The firm’s 50-day simple moving average is $31.61 and its 200 day simple moving average is $29.38. Aramark has a fifty-two week low of $23.95 and a fifty-two week high of $33.04.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.05. The company 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 business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. Equities analysts expect that Aramark will post 1.56 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley boosted their price objective on Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Truist Financial lifted their target price on shares of Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. 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 price target on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $33.00 price objective on shares of Aramark in a research 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.04.

About Aramark

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.