ABM Industries Incorporated (ABM) Expected to Announce Earnings of $0.46 Per Share
Analysts expect ABM Industries Incorporated (NYSE:ABM) to announce earnings of $0.46 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for ABM Industries’ earnings. The lowest EPS estimate is $0.43 and the highest is $0.49. ABM Industries reported earnings per share of $0.51 during the same quarter last year, which would suggest a negative year over year growth rate of 9.8%. The business is scheduled to issue 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 fiscal year, with EPS estimates ranging from $1.81 to $1.88. For the next financial year, analysts anticipate that the company will report earnings of $1.92 per share, with EPS estimates ranging from $1.75 to $2.09. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for ABM Industries.
ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis.
ABM has been the topic of a number of analyst reports. BidaskClub upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Robert W. Baird restated an “outperform” rating and issued a $47.00 price objective (down previously from $49.00) on shares of ABM Industries in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Monday, July 17th. Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the company 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 on the stock in a research report on Monday, September 11th. One investment 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 presently has a consensus rating of “Buy” and a consensus price target of $48.20.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, October 4th. ABM Industries’s payout ratio is 251.86%.
In other news, SVP Dean A. Chin sold 632 shares of ABM Industries 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott J. Giacobbe sold 11,094 shares of ABM Industries stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $39.92, for a total transaction of $442,872.48. Following the sale, the insider now directly owns 59,152 shares in the company, valued at approximately $2,361,347.84. The disclosure for this sale can be found here. Insiders have sold a total of 13,106 shares of company stock worth $531,533 in the last ninety days. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of ABM Industries by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,700 shares of the business services provider’s stock valued at $943,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System boosted its stake in ABM Industries by 0.3% during the second quarter. Arizona State Retirement System now owns 29,038 shares of the business services provider’s stock worth $1,206,000 after acquiring an additional 100 shares in the last quarter. Amalgamated Bank boosted its stake in ABM Industries by 2.6% during the second quarter. Amalgamated Bank now owns 7,743 shares of the business services provider’s stock worth $321,000 after acquiring an additional 196 shares in the last quarter. Personal Capital Advisors Corp boosted its stake in ABM Industries by 0.4% during the second quarter. Personal Capital Advisors Corp now owns 59,250 shares of the business services provider’s stock worth $2,460,000 after acquiring an additional 208 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ABM Industries by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock worth $109,000 after acquiring an additional 229 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
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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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