Zacks: Brokerages Expect ABM Industries, Inc. (NYSE:ABM) Will Announce Earnings of $0.62 Per Share

Wall Street analysts forecast that ABM Industries, Inc. (NYSE:ABM) will report earnings per share of $0.62 for the current quarter, according to Zacks. Two analysts have made estimates for ABM Industries’ earnings. The highest EPS estimate is $0.63 and the lowest is $0.61. ABM Industries reported earnings per share of $0.58 in the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The company is expected to announce its next earnings report on Tuesday, December 17th.

According to Zacks, analysts expect that ABM Industries will report full-year earnings of $2.00 per share for the current year, with EPS estimates ranging from $1.99 to $2.01. For the next fiscal year, analysts expect that the firm will post earnings of $2.09 per share, with EPS estimates ranging from $2.03 to $2.15. Zacks’ EPS averages are an average based on a survey of analysts that cover ABM Industries.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, September 5th. The business services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.65 billion. ABM Industries had a return on equity of 8.90% and a net margin of 1.37%. ABM Industries’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS.

Several equities analysts have recently weighed in on ABM shares. William Blair started coverage on ABM Industries in a report on Thursday, August 15th. They issued a “market perform” rating for the company. Maxim Group set a $50.00 price objective on ABM Industries and gave the company a “buy” rating in a report on Tuesday, September 3rd. ValuEngine cut ABM Industries from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Robert W. Baird set a $38.00 price objective on ABM Industries and gave the company a “hold” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. ABM Industries presently has a consensus rating of “Hold” and a consensus price target of $41.96.

In related news, insider Rene Jacobsen sold 1,500 shares of ABM Industries stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 1,329 shares of ABM Industries stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $39.95, for a total value of $53,093.55. Following the transaction, the chief accounting officer now owns 19,976 shares of the company’s stock, valued at approximately $798,041.20. The disclosure for this sale can be found here. Insiders have sold 4,329 shares of company stock valued at $170,184 in the last quarter. 0.94% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Strs Ohio grew its holdings in ABM Industries by 35.7% during the third quarter. Strs Ohio now owns 31,900 shares of the business services provider’s stock worth $1,158,000 after purchasing an additional 8,400 shares during the period. Brookstone Capital Management bought a new position in ABM Industries during the third quarter worth about $284,000. Nisa Investment Advisors LLC grew its holdings in ABM Industries by 3.1% during the third quarter. Nisa Investment Advisors LLC now owns 12,960 shares of the business services provider’s stock worth $471,000 after purchasing an additional 390 shares during the period. Bowling Portfolio Management LLC bought a new position in ABM Industries during the third quarter worth about $288,000. Finally, State of Alaska Department of Revenue grew its holdings in ABM Industries by 125.8% during the third quarter. State of Alaska Department of Revenue now owns 51,024 shares of the business services provider’s stock worth $1,853,000 after purchasing an additional 28,428 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

Shares of NYSE ABM traded up $0.42 during mid-day trading on Thursday, hitting $38.10. The company had a trading volume of 7,274 shares, compared to its average volume of 309,237. The company has a market capitalization of $2.49 billion, a PE ratio of 20.08 and a beta of 0.63. The firm has a 50-day simple moving average of $36.11 and a two-hundred day simple moving average of $38.18. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.58. ABM Industries has a one year low of $25.64 and a one year high of $42.67.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, October 2nd. ABM Industries’s payout ratio is 38.10%.

About ABM Industries

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.

See Also: Dow Jones Industrial Average (DJIA)

Get a free copy of the Zacks research report on ABM Industries (ABM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.