ABM Industries (ABM) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

ABM Industries (NYSE:ABM) posted its quarterly earnings results on Wednesday. The business services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06, RTT News reports. ABM Industries had a net margin of 1.33% and a return on equity of 8.86%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $0.47 earnings per share. ABM Industries’s revenue for the quarter was up .9% compared to the same quarter last year. ABM Industries updated its FY 2019 guidance to $1.95-2.05 EPS and its FY19 guidance to $1.95-2.05 EPS.

ABM opened at $39.78 on Friday. The company has a market cap of $2.47 billion, a PE ratio of 19.32 and a beta of 0.59. ABM Industries has a 52-week low of $25.64 and a 52-week high of $41.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 1.54.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.81%. ABM Industries’s dividend payout ratio is currently 38.10%.

ABM has been the topic of several research reports. Maxim Group initiated coverage on shares of ABM Industries in a report on Thursday, February 14th. They issued a “buy” rating and a $45.00 price target on the stock. ValuEngine upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Robert W. Baird set a $37.00 price objective on shares of ABM Industries and gave the company a “hold” rating in a research note on Thursday, March 7th. Finally, KeyCorp began coverage on shares of ABM Industries in a research note on Friday, April 5th. They set a “sector weight” rating and a $36.83 price objective on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.46.

In other news, COO Scott J. Giacobbe sold 7,143 shares of ABM Industries stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $36.90, for a total transaction of $263,576.70. Following the sale, the chief operating officer now owns 76,545 shares in the company, valued at $2,824,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott B. Salmirs sold 10,971 shares of ABM Industries stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $37.50, for a total transaction of $411,412.50. Following the sale, the insider now owns 157,091 shares in the company, valued at approximately $5,890,912.50. The disclosure for this sale can be found here. Insiders have sold 26,872 shares of company stock worth $1,003,677 in the last quarter. Insiders own 0.94% of the company’s stock.

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ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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Earnings History for ABM Industries (NYSE:ABM)

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