ABM Industries (NYSE:ABM) Issues Earnings Results

ABM Industries (NYSE:ABMGet Rating) issued its earnings results on Wednesday. The business services provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05, Briefing.com reports. ABM Industries had a net margin of 2.06% and a return on equity of 15.11%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. ABM Industries updated its FY 2022 guidance to $3.50-$3.70 EPS and its FY22 guidance to $3.50-$3.70 EPS.

ABM stock opened at $43.48 on Friday. The company has a fifty day moving average price of $47.71 and a 200-day moving average price of $45.03. The company has a market capitalization of $2.91 billion, a P/E ratio of 20.41 and a beta of 1.10. ABM Industries has a 52-week low of $38.44 and a 52-week high of $54.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 1.17.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, July 7th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, July 6th. ABM Industries’s payout ratio is currently 36.62%.

A number of analysts have weighed in on ABM shares. StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Friday, May 13th. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of ABM Industries from $62.00 to $65.00 in a research note on Wednesday, April 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $56.67.

In related news, EVP Andrea R. Newborn sold 8,619 shares of ABM Industries stock in a transaction on Monday, April 18th. The shares were sold at an average price of $49.35, for a total transaction of $425,347.65. Following the completion of the transaction, the executive vice president now owns 40,976 shares of the company’s stock, valued at $2,022,165.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Raul Javier Valentin sold 1,109 shares of ABM Industries stock in a transaction on Monday, May 9th. The stock was sold at an average price of $45.64, for a total transaction of $50,614.76. Following the transaction, the executive vice president now directly owns 14,337 shares of the company’s stock, valued at approximately $654,340.68. The disclosure for this sale can be found here. Insiders have sold 22,132 shares of company stock valued at $1,049,088 in the last ninety days. Insiders own 0.54% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC increased its stake in ABM Industries by 887.4% in the first quarter. Jane Street Group LLC now owns 74,320 shares of the business services provider’s stock valued at $3,422,000 after purchasing an additional 66,793 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new stake in ABM Industries in the first quarter valued at $1,914,000. Royal Bank of Canada increased its stake in ABM Industries by 39.3% in the first quarter. Royal Bank of Canada now owns 24,579 shares of the business services provider’s stock valued at $1,132,000 after purchasing an additional 6,930 shares in the last quarter. Delphia USA Inc. bought a new stake in ABM Industries in the first quarter valued at $202,000. Finally, Guggenheim Capital LLC bought a new stake in ABM Industries in the first quarter valued at $310,000. 94.65% of the stock is owned by institutional investors and hedge funds.

ABM Industries Company Profile (Get Rating)

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

Further Reading

Earnings History 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.