Wall Street brokerages expect ABM Industries Incorporated (NYSE:ABM) to report $0.53 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for ABM Industries’ earnings. The highest EPS estimate is $0.54 and the lowest is $0.53. ABM Industries posted earnings of $0.54 per share during the same quarter last year, which suggests a negative year over year growth rate of 1.9%. The firm is expected to report its next quarterly earnings results on Wednesday, September 6th.
On average, analysts expect that ABM Industries will report full-year earnings of $1.94 per share for the current fiscal year, with EPS estimates ranging from $1.92 to $1.96. For the next fiscal year, analysts expect that the company will post earnings of $2.13 per share, with EPS estimates ranging from $2.08 to $2.16. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover ABM Industries.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS.
Several equities analysts have recently commented on the company. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Robert W. Baird set a $50.00 target price on ABM Industries and gave the company a “buy” rating in a research report on Wednesday, May 31st.
In related news, insider James P. Mcclure sold 1,970 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $44.01, for a total value of $86,699.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott B. Salmirs sold 4,501 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $43.46, for a total value of $195,613.46. Following the completion of the sale, the insider now owns 66,580 shares of the company’s stock, valued at $2,893,566.80. The disclosure for this sale can be found here. Insiders sold 16,721 shares of company stock worth $716,327 in the last ninety days. 1.30% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in ABM Industries during the fourth quarter valued at $26,617,000. Teachers Advisors LLC boosted its stake in ABM Industries by 8.3% in the fourth quarter. Teachers Advisors LLC now owns 94,147 shares of the business services provider’s stock valued at $3,845,000 after buying an additional 7,191 shares during the last quarter. Sawgrass Asset Management LLC acquired a new stake in ABM Industries during the first quarter valued at $281,000. Gofen & Glossberg LLC IL acquired a new stake in ABM Industries during the first quarter valued at $209,000. Finally, Bank of Montreal Can boosted its stake in ABM Industries by 14.0% in the first quarter. Bank of Montreal Can now owns 7,576 shares of the business services provider’s stock valued at $331,000 after buying an additional 931 shares during the last quarter. Institutional investors and hedge funds own 91.55% of the company’s stock.
Shares of ABM Industries (ABM) traded down 1.14% during midday trading on Wednesday, reaching $40.68. The company had a trading volume of 185,898 shares. The firm has a market cap of $2.27 billion, a P/E ratio of 180.80 and a beta of 0.78. ABM Industries has a 52-week low of $36.54 and a 52-week high of $45.03. The company’s 50-day moving average is $42.14 and its 200-day moving average is $41.77.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 7th. Stockholders of record on Thursday, July 6th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, July 3rd. ABM Industries’s payout ratio is 283.33%.
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About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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