Equities research analysts expect ABM Industries Incorporated (NYSE:ABM) to report $1.49 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for ABM Industries’ earnings, with the lowest sales estimate coming in at $1.48 billion and the highest estimate coming in at $1.51 billion. ABM Industries reported sales of $1.32 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 12.9%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, December 13th.

On average, analysts expect that ABM Industries will report full-year sales of $1.49 billion for the current fiscal year, with estimates ranging from $5.43 billion to $5.47 billion. For the next fiscal year, analysts expect that the company will post sales of $6.47 billion per share, with estimates ranging from $6.44 billion to $6.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover ABM Industries.

A number of equities research analysts have commented on ABM shares. Robert W. Baird set a $47.00 target price on ABM Industries and gave the company a “buy” rating in a research report on Thursday, August 24th. BidaskClub upgraded ABM Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Monday, September 11th. Finally, Zacks Investment Research upgraded ABM Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $48.20.

ABM Industries (NYSE:ABM) traded up $0.45 during midday trading on Tuesday, reaching $43.78. The company’s stock had a trading volume of 361,600 shares, compared to its average volume of 316,840. The firm has a market capitalization of $2,822.34, a price-to-earnings ratio of 22.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.52 and a quick ratio of 1.52. ABM Industries has a one year low of $37.12 and a one year high of $45.12.

In other news, insider Scott J. Giacobbe sold 11,094 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was 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 approximately $2,361,347.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Dean A. Chin sold 880 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total value of $37,752.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ABM. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ABM Industries by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 229 shares during the period. Riverhead Capital Management LLC increased its position in shares of ABM Industries by 60.4% during the second quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock worth $146,000 after acquiring an additional 1,328 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of ABM Industries by 12,666.7% during the second quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock worth $159,000 after acquiring an additional 3,800 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in ABM Industries in the second quarter valued at about $164,000. Finally, D.A. Davidson & CO. bought a new stake in ABM Industries in the second quarter valued at about $171,000. Hedge funds and other institutional investors own 96.21% of the company’s stock.

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

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