Zacks: Analysts Anticipate ABM Industries Incorporated (ABM) to Announce $0.46 EPS
Equities research analysts expect ABM Industries Incorporated (NYSE:ABM) to report earnings of $0.46 per share for the current quarter, Zacks reports. Two analysts have made estimates for ABM Industries’ earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.49. ABM Industries posted earnings per share of $0.51 during the same quarter last year, which suggests a negative year-over-year growth rate of 9.8%. The company is scheduled to announce its next earnings results on Tuesday, December 12th.
On average, analysts expect that ABM Industries will report full year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.81 to $1.88. For the next year, analysts forecast that the firm will post earnings of $1.92 per share, with EPS estimates ranging from $1.75 to $2.09. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for ABM Industries.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. ABM Industries’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share.
ABM has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. BidaskClub downgraded shares of ABM Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Robert W. Baird set a $47.00 price objective on shares of ABM Industries and gave the stock a “buy” rating in a research report on Thursday, August 24th. Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $55.00 in a research report on Thursday, July 13th. Finally, KeyCorp upgraded shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, September 11th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. ABM Industries has an average rating of “Buy” and a consensus price target of $48.20.
ABM Industries (NYSE ABM) traded up 0.23% during trading on Wednesday, hitting $43.07. The stock had a trading volume of 194,261 shares. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 27.43 and a beta of 0.80. The firm has a 50 day moving average of $41.86 and a 200-day moving average of $42.56. ABM Industries has a 12 month low of $37.12 and a 12 month high of $45.12.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $0.68 dividend on an annualized basis and a yield of 1.58%. ABM Industries’s payout ratio is 251.86%.
In other ABM Industries news, insider Scott J. Giacobbe sold 11,094 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $39.92, for a total value of $442,872.48. Following the completion of the sale, the insider now owns 59,152 shares in the company, valued at approximately $2,361,347.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Dean A. Chin sold 632 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total transaction of $28,408.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,069 shares of company stock valued at $618,769. 1.30% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Phocas Financial Corp. grew its stake in shares of ABM Industries by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 139,647 shares of the business services provider’s stock valued at $5,798,000 after buying an additional 6,230 shares during the period. Koch Industries Inc. purchased a new stake in shares of ABM Industries in the 2nd quarter valued at approximately $261,000. Piedmont Investment Advisors LLC purchased a new stake in shares of ABM Industries in the 2nd quarter valued at approximately $500,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ABM Industries in the 2nd quarter valued at approximately $277,000. Finally, Shelton Capital Management purchased a new stake in shares of ABM Industries in the 2nd quarter valued at approximately $229,000. 78.23% of the stock is owned by institutional investors and hedge funds.
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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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