Q2 2018 EPS Estimates for ABM Industries, Inc. Raised by KeyCorp (ABM)

ABM Industries, Inc. (NYSE:ABM) – Equities research analysts at KeyCorp lifted their Q2 2018 earnings per share estimates for ABM Industries in a research note issued on Thursday. KeyCorp analyst J. Box now forecasts that the business services provider will post earnings of $0.49 per share for the quarter, up from their prior forecast of $0.47. KeyCorp also issued estimates for ABM Industries’ Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.53 EPS and Q4 2019 earnings at $0.57 EPS.

ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, December 13th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.12). ABM Industries had a return on equity of 9.74% and a net margin of 0.07%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year.

Several other research analysts also recently commented on the stock. TheStreet downgraded shares of ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. Zacks Investment Research downgraded shares of ABM Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $49.50.

ABM Industries (ABM) opened at $39.77 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. ABM Industries has a one year low of $36.61 and a one year high of $45.12. The company has a market cap of $2,605.50, a price-to-earnings ratio of 568.22 and a beta of 0.81.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Thursday, January 4th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.76%. This is an increase from ABM Industries’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, January 3rd. ABM Industries’s payout ratio is presently 1,000.14%.

In other ABM Industries news, Director Linda Chavez sold 2,103 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $38.89, for a total transaction of $81,785.67. Following the transaction, the director now directly owns 16,557 shares of the company’s stock, valued at approximately $643,901.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of ABM. Lee Thomas H Partners LP purchased a new position in ABM Industries during the 3rd quarter valued at $188,691,000. Vaughan Nelson Investment Management L.P. increased its position in ABM Industries by 65.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,775 shares of the business services provider’s stock valued at $51,544,000 after purchasing an additional 489,875 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in ABM Industries by 62.7% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 798,509 shares of the business services provider’s stock valued at $30,120,000 after purchasing an additional 307,846 shares during the period. Allianz Asset Management GmbH increased its position in ABM Industries by 1,354.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 301,971 shares of the business services provider’s stock valued at $12,595,000 after purchasing an additional 281,216 shares during the period. Finally, Koch Industries Inc. purchased a new position in ABM Industries during the 2nd quarter valued at $261,000. 94.55% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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