Analysts Expect ABM Industries, Inc. (ABM) Will Post Quarterly Sales of $1.59 Billion
Brokerages expect ABM Industries, Inc. (NYSE:ABM) to announce $1.59 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for ABM Industries’ earnings. ABM Industries posted sales of $1.33 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.5%. The business is expected to announce its next quarterly earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that ABM Industries will report full year sales of $1.59 billion for the current fiscal year, with estimates ranging from $6.28 billion to $6.51 billion. For the next fiscal year, analysts forecast that the business will report sales of $6.64 billion per share, with estimates ranging from $6.49 billion to $6.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ABM Industries.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.12). ABM Industries had a return on equity of 9.74% and a net margin of 0.07%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis.
ABM Industries (NYSE ABM) traded down $0.09 during trading hours on Monday, hitting $38.87. The company’s stock had a trading volume of 390,300 shares, compared to its average volume of 479,156. ABM Industries has a 1 year low of $36.61 and a 1 year high of $45.12. The stock has a market cap of $2,550.00, a PE ratio of 27.96 and a beta of 0.81. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.84.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Thursday, January 4th will be issued a $0.175 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $0.70 annualized dividend and a dividend yield of 1.80%. This is a boost from ABM Industries’s previous quarterly dividend of $0.17. ABM Industries’s dividend payout ratio (DPR) is presently 50.36%.
In other ABM Industries news, Director Linda Chavez sold 2,103 shares of the firm’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $38.89, for a total value of $81,785.67. Following the sale, the director now owns 16,557 shares of the company’s stock, valued at approximately $643,901.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its position in shares of ABM Industries by 2.6% during the 2nd quarter. Amalgamated Bank now owns 7,743 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 196 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ABM Industries by 9.5% during the 2nd 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 last quarter. Victory Capital Management Inc. increased its position in shares of ABM Industries by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 5,209 shares of the business services provider’s stock valued at $216,000 after purchasing an additional 782 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of ABM Industries by 4.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 19,900 shares of the business services provider’s stock valued at $826,000 after purchasing an additional 900 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of ABM Industries by 6.7% during the 2nd quarter. Van ECK Associates Corp now owns 18,086 shares of the business services provider’s stock valued at $751,000 after purchasing an additional 1,138 shares during the last quarter. 94.09% of the stock is currently owned by hedge funds and other institutional investors.
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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