ABM Industries, Inc. (NYSE:ABM) Expected to Announce Earnings of $0.62 Per Share

Brokerages predict that ABM Industries, Inc. (NYSE:ABM) will announce $0.62 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for ABM Industries’ earnings, with estimates ranging from $0.61 to $0.63. ABM Industries reported earnings of $0.58 per share during the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The company is expected to issue its next earnings results after the market closes on Wednesday, December 18th.

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

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

ABM has been the topic of several research reports. Maxim Group set a $50.00 price target on shares of ABM Industries and gave the company a “buy” rating in a report on Tuesday, September 3rd. ValuEngine lowered shares of ABM Industries from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Robert W. Baird set a $38.00 target price on ABM Industries and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, William Blair started coverage on ABM Industries in a research report on Thursday, August 15th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. ABM Industries presently has an average rating of “Hold” and a consensus price target of $41.96.

In other news, EVP Rene Jacobsen sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $38.00, for a total value of $60,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 4,800 shares of company stock worth $182,400 in the last 90 days. Corporate insiders own 0.94% of the company’s stock.

Several large investors have recently added to or reduced their stakes in ABM. Wells Fargo & Company MN raised its holdings in shares of ABM Industries by 14.0% during the second quarter. Wells Fargo & Company MN now owns 283,551 shares of the business services provider’s stock valued at $11,343,000 after purchasing an additional 34,787 shares during the last quarter. JPMorgan Chase & Co. lifted its position in ABM Industries by 9.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,218,817 shares of the business services provider’s stock worth $48,315,000 after acquiring an additional 106,723 shares during the period. Mackenzie Financial Corp acquired a new stake in ABM Industries during the 2nd quarter worth about $203,000. Balyasny Asset Management LLC grew its stake in ABM Industries by 328.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 34,209 shares of the business services provider’s stock valued at $1,368,000 after purchasing an additional 26,222 shares during the last quarter. Finally, Mason Street Advisors LLC increased its holdings in shares of ABM Industries by 1.8% in the third quarter. Mason Street Advisors LLC now owns 22,552 shares of the business services provider’s stock valued at $819,000 after purchasing an additional 402 shares during the period. Hedge funds and other institutional investors own 98.32% of the company’s stock.

Shares of NYSE:ABM opened at $37.56 on Monday. The stock has a 50-day simple moving average of $37.62 and a 200-day simple moving average of $38.22. The stock has a market capitalization of $2.49 billion, a P/E ratio of 19.87 and a beta of 0.63. ABM Industries has a 1 year low of $25.64 and a 1 year high of $42.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.50 and a current ratio of 1.50.

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 and Estimates for ABM Industries (NYSE:ABM)

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