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.

COPYRIGHT VIOLATION WARNING: “ABM Industries Incorporated (ABM) Expected to Announce Quarterly Sales of $1.49 Billion” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/11/04/abm-industries-incorporated-abm-expected-to-announce-quarterly-sales-of-1-49-billion.html.

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.

Get a free copy of the Zacks research report on ABM Industries (ABM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ABM Industries (NYSE:ABM)

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.