Aramark (NYSE:ARMK) Plans $0.00 Quarterly Dividend

Aramark (NYSE:ARMK - Get Free Report) declared a quarterly dividend on Monday, November 11th,Zacks Dividends reports. Shareholders 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 dividend on an annualized basis and a yield of 0.01%. The ex-dividend date of this dividend is Monday, December 2nd.

Aramark has decreased its dividend by an average of 1.2% annually over the last three years. Aramark has a payout ratio of 19.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Aramark to earn $1.91 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 19.9%.

Aramark Trading Down 1.7 %

ARMK stock traded down $0.66 during trading on Tuesday, reaching $38.02. 2,690,104 shares of the stock were exchanged, compared to its average volume of 2,222,865. Aramark has a 1 year low of $25.92 and a 1 year high of $42.04. The business has a 50 day moving average price of $38.15 and a 200-day moving average price of $35.10. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $10.02 billion, a price-to-earnings ratio of 38.45 and a beta of 1.62.

Aramark (NYSE:ARMK - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The company's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, research analysts predict that Aramark will post 1.55 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Aramark from $40.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Aramark from a "sell" rating to a "hold" rating in a report on Tuesday, October 29th. Royal Bank of Canada upgraded shares of Aramark from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $36.00 to $42.50 in a research report on Tuesday, September 17th. Truist Financial boosted their target price on Aramark from $42.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Bank of America raised their target price on Aramark from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.