Brokerages Expect ABM Industries Incorporated (ABM) to Announce $0.53 Earnings Per Share
Wall Street analysts expect that ABM Industries Incorporated (NYSE:ABM) will post $0.53 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for ABM Industries’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.53. ABM Industries posted earnings per share of $0.54 during the same quarter last year, which indicates a negative year-over-year growth rate of 1.9%. The company is expected to issue its next earnings results after the market closes on Wednesday, September 6th.
On average, analysts expect that ABM Industries will report full-year earnings of $1.88 per share for the current year, with EPS estimates ranging from $1.84 to $1.92. For the next fiscal year, analysts expect that the firm will post earnings of $2.12 per share, with EPS estimates ranging from $2.08 to $2.16. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover ABM Industries.
ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. ABM Industries had a net margin of 0.25% and a return on equity of 11.44%. ABM Industries’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS.
ABM has been the subject of several recent research reports. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. Robert W. Baird set a $50.00 target price on shares of ABM Industries and gave the stock a “buy” rating in a report on Wednesday, May 31st. Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $55.00 in a report on Thursday, July 13th. Finally, BidaskClub upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. ABM Industries presently has a consensus rating of “Buy” and an average price target of $48.25.
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In other ABM Industries news, insider James P. Mcclure sold 1,963 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total value of $87,235.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Dean A. Chin sold 632 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total transaction of $28,408.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,925 shares of company stock valued at $385,575. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ABM. Teachers Advisors LLC lifted its stake in ABM Industries by 8.3% in the fourth quarter. Teachers Advisors LLC now owns 94,147 shares of the business services provider’s stock valued at $3,845,000 after acquiring an additional 7,191 shares during the last quarter. Bank of Montreal Can lifted its stake in ABM Industries by 14.0% in the first quarter. Bank of Montreal Can now owns 7,576 shares of the business services provider’s stock valued at $331,000 after acquiring an additional 931 shares during the last quarter. Glen Harbor Capital Management LLC lifted its stake in ABM Industries by 2.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,250 shares of the business services provider’s stock valued at $185,000 after acquiring an additional 102 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in ABM Industries by 5.9% in the first quarter. Great West Life Assurance Co. Can now owns 77,961 shares of the business services provider’s stock valued at $3,397,000 after acquiring an additional 4,342 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in ABM Industries in the first quarter valued at $240,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.
ABM Industries (ABM) opened at 44.63 on Monday. ABM Industries has a one year low of $37.60 and a one year high of $45.12. The company has a 50-day moving average of $44.00 and a 200 day moving average of $42.73. The company has a market cap of $2.49 billion, a P/E ratio of 198.36 and a beta of 0.79.
The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Thursday, July 6th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Monday, July 3rd. ABM Industries’s dividend payout ratio is currently 283.33%.
ABM Industries Company Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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