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

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

Aramark has decreased its dividend payment by an average of 1.2% annually 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 Stock Down 0.2 %

Aramark stock opened at $40.69 on Friday. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 41.10 and a beta of 1.62. 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 50 day moving average of $38.68 and a two-hundred day moving average of $35.83. Aramark has a twelve month low of $26.58 and a twelve month high of $42.49.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.51% and a return on equity of 14.06%. Aramark’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. As a group, research analysts expect that Aramark will post 1.92 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Morgan Stanley increased their target price on Aramark from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price target on Aramark from $43.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada raised Aramark from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $42.50 in a report on Tuesday, September 17th. Finally, UBS Group raised their target price on Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Aramark has a consensus rating of “Moderate Buy” and an average price target 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.