ABM Industries, Inc. (ABM) Sees Significant Increase in Short Interest
ABM Industries, Inc. (NYSE:ABM) was the recipient of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 3,172,641 shares, a growth of 55.1% from the December 15th total of 2,045,285 shares. Approximately 5.3% of the company’s shares are short sold. Based on an average trading volume of 626,102 shares, the short-interest ratio is currently 5.1 days.
ABM has been the subject of several recent analyst reports. TheStreet cut shares of ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. Zacks Investment Research raised shares of ABM Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. ABM Industries currently has a consensus rating of “Buy” and an average price target of $49.50.
In other ABM Industries news, Director Linda Chavez sold 2,103 shares of ABM Industries stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $38.89, for a total value of $81,785.67. Following the completion of the sale, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $643,901.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.
Shares of ABM Industries (NYSE:ABM) opened at $38.47 on Wednesday. ABM Industries has a 12 month low of $36.61 and a 12 month high of $45.12. The stock has a market cap of $2,546.54, a price-to-earnings ratio of 549.65 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.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.12). ABM Industries had a net margin of 0.07% and a return on equity of 9.74%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. sell-side analysts predict that ABM Industries will post 1.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Thursday, January 4th will be paid a dividend of $0.175 per share. The ex-dividend date is Wednesday, January 3rd. This is a boost from ABM Industries’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a dividend yield of 1.82%. ABM Industries’s payout ratio is currently 1,000.14%.
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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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