ABM Industries Earns “Neutral” Rating from Zacks (ABM)
ABM Industries (NYSE:ABM)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Wednesday. They currently have a $28.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 5.66% from the company’s current price.
Zacks’ analyst wrote, “ABM Industries’ second-quarter fiscal 2014 adjusted earnings miserably missed the Zacks Consensus Estimate despite record revenues. ABM Industries has realigned its operational structure to improve the long-term growth prospects and generate higher margin opportunities. The company expects to extend its global footprint and strengthen its position in existing markets through continuous acquisitions and organic growth across the industry verticals. However, soft global economic conditions could weigh on the margins moving forward. Moreover, intense competitive pressure and high integration and start-up costs are likely to peg back its profitability to some extent. Nevertheless, we maintain our Neutral recommendation on the stock. “
Separately, analysts at Imperial Capital cut their price target on shares of ABM Industries from $29.50 to $29.00 in a research note on Thursday, June 5th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $29.25.
Shares of ABM Industries (NYSE:ABM) traded down 0.26% during mid-day trading on Wednesday, hitting $26.43. The stock had a trading volume of 42,866 shares. ABM Industries has a 52 week low of $24.11 and a 52 week high of $29.50. The stock has a 50-day moving average of $25.59 and a 200-day moving average of $26.96. The company has a market cap of $1.480 billion and a price-to-earnings ratio of 21.94.
ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.07. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that ABM Industries will post $1.60 earnings per share for the current fiscal year.
ABM Industries Incorporated (NYSE:ABM) is a provider of integrated facility solutions.
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