Aramark [ARMK] Stock Forecast

Aramark (NYSE:ARMK ) Q4 2023 Earnings Conference Call November 14, 2023 8:30 AM ET Company Participants Felise Kissell - Senior Vice President, Investor Relations & Corporate Development John Zillmer - CEO Tom Ondrof - CFO Conference Call Participants Harry Martin - Bernstein Neil Tyler - Redburn Atlantic Ian Zaffino - Oppenheimer Andrew Steinerman - JPMorgan Heather Balsky - BOA Andrew Wittmann - Baird Toni Kaplan - Morgan Stanley Shlomo Rosenbaum - Stifel Josh Chan - UBS Stephanie Moore - Jefferies Operator Good morning, and welcome to Aramark's Fourth Quarter and Full Year Fiscal 2023 Earnings Results Conference Call. My name is Kevin, and I'll be your operator for today's call.

Shares of Aramark ARMK, slipped 0.1% in premarket trading Tuesday, after the food and facilities company matched fiscal fourth-quarter profit expectations but beat revenue forecasts. Net income for the quarter to Sept.

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Aramark (ARMK), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended September 2023.

While the current deal landscape on Wall Street remains low on M&A, initial public offerings (IPOs), and other transactions, corporate spinoffs are chugging along.

Aramark has completed the spinoff of its uniform and workplace business supplies segment now called Vestis. Vestis is a $2.7 billion business with a focus on uniforms and workwear, aiming for 5-7% growth in the next five years. The market response to the spinoff has been mixed, although shares of Vestis could see upside if margin achievements will be delivered upon.

If you're an investor in the shares of Aramark, which provides food and hospitality services for many professional sports teams, then you should be rooting for the Houston Astros and the Philadelphia Phillies to return to the World Series.

Aramark has completed the spinoff of its uniform business. Shareholders now own one share of Vestis, the new company, for every two shares of Aramark they owned on Friday.

Now looks like a good time to consider undervalued mid-cap stocks. According to Franklin Templeton, the grouping of companies with market capitalizations between $2 billion to $10 billion is due for further improvement.

PHILADELPHIA--(BUSINESS WIRE)--Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, announced that the Company's Chief Financial Officer, Tom Ondrof, and Chief Operating Officer, International, Carl Mittleman, will participate in Citi's 2023 Growth Conference in London on September 15, 2023, with a featured Fireside Chat session beginning at 11:20 a.m. BST / 6:20 a.m. EDT. A live webcast and replay of the fireside chat sessions will be available through the Investor.

Aramark ARMK said Wednesday that the spinoff of its uniforms and workplace supplies business, which will be named Vestis, has been approved and is expected to be completed on Sept. 30. the food, facilities management and uniforms company said holders of Aramark shares will receive on Vestis common stock for every two Aramark shares they own as of Sept.

Aramark is a US stock , located in Philadelphia of Pa and trading under the symbol ARMK

9 stock analysts have 9 predictions with a medium analyst target price of $41.44. The lowest prediction is $36 and the highest is $45

Aramark stock price is $27.16 today.

Yes, Aramark is a publicly traded company.