ABM Industries Incorporated (ABM) Expected to Announce Quarterly Sales of $1.49 Billion
Equities analysts expect ABM Industries Incorporated (NYSE:ABM) to report $1.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ABM Industries’ earnings, with the highest sales estimate coming in at $1.51 billion and the lowest estimate coming in at $1.48 billion. ABM Industries posted sales of $1.32 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 12.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, December 12th.
According to Zacks, analysts expect that ABM Industries will report full-year sales of $1.49 billion for the current year, with estimates ranging from $5.43 billion to $5.47 billion. For the next year, analysts forecast that the business will post sales of $6.47 billion per share, with estimates ranging from $6.44 billion to $6.49 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow 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 analysts’ consensus estimates of $0.54 by ($0.03). ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. The firm 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 posted $0.54 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp upgraded shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price target on the stock in a report on Monday, September 11th. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird restated an “outperform” rating and issued a $47.00 price target (down from $49.00) on shares of ABM Industries in a report on Thursday, July 13th. Finally, Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $55.00 in a report on Thursday, July 13th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. ABM Industries currently has a consensus rating of “Buy” and a consensus price target of $48.20.
Shares of ABM Industries (ABM) opened at $41.06 on Friday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 21.75 and a beta of 0.81. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.27.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Investors of record on Thursday, October 5th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, October 4th. ABM Industries’s payout ratio is currently 251.86%.
In related news, SVP Dean A. Chin sold 632 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total value of $28,408.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott J. Giacobbe sold 11,094 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $39.92, for a total transaction of $442,872.48. Following the completion of the transaction, the insider now directly owns 59,152 shares of the company’s stock, valued at $2,361,347.84. The disclosure for this sale can be found here. Insiders sold a total of 13,106 shares of company stock valued at $531,533 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in ABM. BlackRock Inc. raised its position in ABM Industries by 35,805.5% during the 1st 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 during the last quarter. Lee Thomas H Partners LP purchased a new position in ABM Industries during the 3rd quarter worth approximately $188,691,000. Vaughan Nelson Investment Management L.P. purchased a new position in ABM Industries during the 2nd quarter worth approximately $30,970,000. Systematic Financial Management LP raised its position in ABM Industries by 1,079.2% during the 2nd 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 during the last quarter. Finally, Vanguard Group Inc. raised its position in ABM Industries by 6.8% during the 1st 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 during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.
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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