$1.49 Billion in Sales Expected for ABM Industries Incorporated (ABM) This Quarter
Wall Street analysts forecast that ABM Industries Incorporated (NYSE:ABM) will post $1.49 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for ABM Industries’ earnings, with estimates ranging from $1.48 billion to $1.51 billion. ABM Industries reported sales of $1.32 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.9%. The firm is expected to issue its next earnings report on Tuesday, December 12th.
On average, analysts expect that ABM Industries will report full year sales of $1.49 billion for the current year, with estimates ranging from $5.43 billion to $5.47 billion. For the next fiscal year, analysts forecast that the business will report sales of $6.47 billion per share, with estimates ranging from $6.44 billion to $6.49 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover ABM Industries.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 6th. The business services provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 EPS.
Several brokerages recently commented on ABM. BidaskClub upgraded shares of ABM Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird set a $47.00 target price on shares of ABM Industries and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, KeyCorp upgraded shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price on the stock in a report on Monday, September 11th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. ABM Industries presently has an average rating of “Buy” and a consensus price target of $48.20.
In other ABM Industries news, SVP Dean A. Chin sold 880 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $42.90, for a total value of $37,752.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott J. Giacobbe sold 11,094 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $39.92, for a total transaction of $442,872.48. Following the completion of the sale, the insider now owns 59,152 shares in the company, valued at $2,361,347.84. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Lee Thomas H Partners LP acquired a new stake in shares of ABM Industries during the 3rd quarter valued at about $188,691,000. Koch Industries Inc. acquired a new stake in shares of ABM Industries during the 2nd quarter valued at about $261,000. Nationwide Fund Advisors boosted its position in shares of ABM Industries by 9.0% during the 2nd quarter. Nationwide Fund Advisors now owns 101,158 shares of the business services provider’s stock valued at $4,200,000 after acquiring an additional 8,394 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of ABM Industries by 5.8% during the 2nd quarter. Principal Financial Group Inc. now owns 471,406 shares of the business services provider’s stock valued at $19,573,000 after acquiring an additional 25,860 shares in the last quarter. Finally, CIBC World Markets Inc. acquired a new stake in shares of ABM Industries during the 2nd quarter valued at about $624,000. Institutional investors own 86.58% of the company’s stock.
ABM Industries (NYSE:ABM) opened at $40.94 on Friday. The company has a market cap of $2,666.66, a price-to-earnings ratio of 21.66 and a beta of 0.81. ABM Industries has a twelve month low of $37.12 and a twelve month high of $45.12. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.27.
The business also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Thursday, October 5th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $0.68 annualized dividend and a yield of 1.66%. ABM Industries’s dividend payout ratio is 251.86%.
ABM Industries Company Profile
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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