Brokerages expect that ABM Industries Incorporated (NYSE:ABM) will announce sales of $1.32 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for ABM Industries’ earnings. The lowest sales estimate is $1.31 billion and the highest is $1.32 billion. ABM Industries reported sales of $1.30 billion in the same quarter last year, which indicates a positive year over year growth rate of 1.5%. The business is expected to announce its next earnings results on Wednesday, September 6th.

According to Zacks, analysts expect that ABM Industries will report full-year sales of $1.32 billion for the current financial year, with estimates ranging from $5.25 billion to $5.30 billion. For the next financial year, analysts expect that the firm will report sales of $5.37 billion per share, with estimates ranging from $5.34 billion to $5.40 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for ABM Industries.

ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis.

A number of research analysts have recently commented on ABM shares. Robert W. Baird raised ABM Industries from a “neutral” rating to an “outperform” rating and upped their price target for the company from $46.00 to $50.00 in a research report on Thursday, March 9th. Zacks Investment Research cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th.

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In related news, insider James P. Mcclure sold 1,970 shares of the stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $40.87, for a total transaction of $80,513.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rene Jacobsen sold 950 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $41.88, for a total value of $39,786.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,731 shares of company stock worth $717,648 in the last three months. 1.30% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock worth $105,000 after buying an additional 946 shares during the period. Elkfork Partners LLC boosted its stake in shares of ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock worth $120,000 after buying an additional 66 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock worth $153,000 after buying an additional 84 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of ABM Industries by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock worth $167,000 after buying an additional 236 shares during the period. Finally, Independent Portfolio Consultants Inc. bought a new stake in shares of ABM Industries during the second quarter worth about $162,000. 91.55% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries (NYSE:ABM) traded up 1.68% during midday trading on Friday, hitting $41.22. The stock had a trading volume of 35,859 shares. The stock has a market cap of $2.30 billion, a P/E ratio of 183.20 and a beta of 0.78. ABM Industries has a 52 week low of $35.96 and a 52 week high of $45.03. The company has a 50-day moving average price of $42.14 and a 200-day moving average price of $41.77.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Thursday, July 6th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.68%. ABM Industries’s dividend payout ratio (DPR) is 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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Earnings History and Estimates for ABM Industries (NYSE:ABM)

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