Aramark (NYSE:ARMK) Declares Quarterly Dividend of $0.11

Aramark (NYSE:ARMK - Get Free Report) announced a quarterly dividend on Monday, January 27th,NASDAQ Dividends reports. Investors of record on Monday, February 10th will be paid a dividend of 0.105 per share on Monday, February 24th. This represents a $0.42 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, February 10th. This is a positive change from Aramark's previous quarterly dividend of $0.001.

Aramark has decreased its dividend by an average of 3.9% per year over the last three years. Aramark has a payout ratio of 18.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Aramark to earn $2.27 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 18.5%.

Aramark Stock Down 1.8 %

NYSE:ARMK traded down $0.72 during mid-day trading on Friday, hitting $38.91. The company had a trading volume of 982,805 shares, compared to its average volume of 1,697,528. The business has a fifty day simple moving average of $38.94 and a 200-day simple moving average of $37.52. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 39.29 and a beta of 1.64. Aramark has a 1 year low of $28.51 and a 1 year high of $42.49. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 1.42.

Aramark (NYSE:ARMK - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $0.54 EPS for the quarter, meeting the consensus estimate of $0.54. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.46 billion. Aramark had a return on equity of 14.06% and a net margin of 1.51%. The company's revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.64 EPS. Equities analysts forecast that Aramark will post 1.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARMK has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on shares of Aramark from $38.00 to $41.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Morgan Stanley raised their target price on Aramark from $40.00 to $43.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. StockNews.com cut Aramark from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Truist Financial raised their price objective on Aramark from $42.00 to $46.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on Aramark from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.59.

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.