ABM Industries (NYSE:ABM) Announces Quarterly Earnings Results, Beats Expectations By $0.31 EPS

ABM Industries (NYSE:ABM) announced its quarterly earnings results on Wednesday. The business services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.31, MarketWatch Earnings reports. ABM Industries had a positive return on equity of 10.10% and a negative net margin of 0.38%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. ABM Industries’s quarterly revenue was down 6.2% on a year-over-year basis.

NYSE ABM opened at $38.29 on Friday. The stock has a 50-day simple moving average of $32.93 and a 200 day simple moving average of $34.03. The company has a market capitalization of $2.60 billion, a PE ratio of 17.35 and a beta of 1.26. The company has a current ratio of 1.82, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79. ABM Industries has a 12 month low of $19.79 and a 12 month high of $42.67.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Thursday, July 2nd will be issued a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.74 dividend on an annualized basis and a yield of 1.93%. ABM Industries’s dividend payout ratio is presently 36.10%.

In related news, CFO Diego Anthony Scaglione sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $35.07, for a total value of $105,210.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Several equities analysts have issued reports on the company. KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research report on Wednesday, April 1st. Sidoti downgraded ABM Industries from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research report on Wednesday, May 27th. Robert W. Baird boosted their target price on ABM Industries from $23.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday. TheStreet downgraded ABM Industries from a “b-” rating to a “c+” rating in a research report on Monday, March 16th. Finally, Maxim Group downgraded ABM Industries from a “buy” rating to a “hold” rating and dropped their target price for the stock from $43.00 to $27.00 in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ABM Industries currently has a consensus rating of “Hold” and an average price target of $37.20.

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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