ABM Industries Incorporated (ABM) Expected to Post Quarterly Sales of $1.32 Billion
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%.
ILLEGAL ACTIVITY WARNING: “ABM Industries Incorporated (ABM) Expected to Post Quarterly Sales of $1.32 Billion” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/18/abm-industries-incorporated-abm-expected-to-post-quarterly-sales-of-1-32-billion.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABM Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.