ABM Industries Trading Up 6.4% Following Earnings Beat (ABM)
ABM Industries (NYSE:ABM) shares were up 6.4% during trading on Thursday following a stronger than expected earnings report, AnalystRatings.Net reports. The company traded as high as $28.98 and last traded at $28.26, with a volume of 310,358 shares trading hands. The stock had previously closed at $26.57.
The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.01. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company posted $0.41 earnings per share.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 3rd. Investors of record on Thursday, October 2nd will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 2.33%.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of ABM Industries in a research note on Wednesday, August 27th. They now have a $28.00 price target on the stock. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.25.
The stock’s 50-day moving average is $25.61 and its 200-day moving average is $26.94. The company has a market cap of $1.576 billion and a P/E ratio of 22.00.
ABM Industries Incorporated (NYSE:ABM) is a provider of integrated facility solutions.
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