ABM Industries (NYSE:ABM) Issues FY24 Earnings Guidance

ABM Industries (NYSE:ABMGet Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.40-3.50 for the period, compared to the consensus EPS estimate of $3.40. ABM Industries also updated its FY 2024 guidance to 3.400-3.500 EPS.

ABM Industries Stock Up 5.2 %

Shares of NYSE ABM opened at $50.94 on Friday. The firm has a market cap of $3.22 billion, a P/E ratio of 13.34 and a beta of 1.16. The firm’s 50 day moving average price is $45.51 and its 200 day moving average price is $43.62. ABM Industries has a 1 year low of $37.61 and a 1 year high of $53.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.48 and a current ratio of 1.44.

ABM Industries (NYSE:ABMGet Free Report) last announced its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. ABM Industries’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.90 EPS. As a group, sell-side analysts anticipate that ABM Industries will post 3.38 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s dividend payout ratio is presently 23.56%.

Analysts Set New Price Targets

Separately, UBS Group raised their target price on shares of ABM Industries from $45.00 to $51.00 and gave the company a neutral rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $47.00.

Get Our Latest Research Report on ABM

Insider Activity

In other news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The disclosure for this sale can be found here. In the last three months, insiders sold 23,643 shares of company stock valued at $1,055,490. Company insiders own 1.04% of the company’s stock.

ABM Industries Company Profile

(Get Free Report)

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.

Read More

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

Receive News & Ratings for ABM Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries and related companies with MarketBeat.com's FREE daily email newsletter.