Wall Street brokerages forecast that ABM Industries Incorporated (NYSE:ABM) will post $1.32 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for ABM Industries’ earnings, with estimates ranging from $1.31 billion to $1.32 billion. ABM Industries posted sales of $1.30 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The company is scheduled to report 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 year. For the next year, analysts expect that the firm will report sales of $5.34 billion per share. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for ABM Industries.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, June 7th. The business services provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The company had revenue of $1.31 billion for 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%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share.

A number of research firms have recently commented on ABM. BidaskClub cut ABM Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $55.00 in a research note on Thursday, July 13th. Finally, Robert W. Baird set a $50.00 target price on ABM Industries and gave the stock a “buy” rating in a research note on Wednesday, May 31st. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $48.25.

ABM Industries (ABM) opened at 43.18 on Friday. The stock has a 50 day moving average of $43.30 and a 200 day moving average of $42.46. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 191.91 and a beta of 0.80. ABM Industries has a 12 month low of $37.47 and a 12 month high of $45.12.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, July 3rd. ABM Industries’s payout ratio is 283.33%.

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In related news, SVP Dean A. Chin sold 632 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James P. Mcclure sold 1,963 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total value of $87,235.72. The disclosure for this sale can be found here. Insiders have sold a total of 8,925 shares of company stock worth $385,575 over the last quarter. Company insiders own 1.30% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of ABM Industries by 35,805.5% in the first quarter. BlackRock Inc. now owns 7,121,861 shares of the business services provider’s stock worth $310,513,000 after buying an additional 7,102,026 shares in the last quarter. State Street Corp boosted its stake in shares of ABM Industries by 236.6% in the first quarter. State Street Corp now owns 4,414,087 shares of the business services provider’s stock worth $192,454,000 after buying an additional 3,102,800 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of ABM Industries during the second quarter worth about $30,970,000. Systematic Financial Management LP boosted its stake in shares of ABM Industries by 1,079.2% in the second quarter. Systematic Financial Management LP now owns 455,594 shares of the business services provider’s stock worth $18,916,000 after buying an additional 416,959 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of ABM Industries by 6.8% in the first quarter. Vanguard Group Inc. now owns 5,261,484 shares of the business services provider’s stock worth $229,401,000 after buying an additional 333,410 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

About ABM Industries

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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