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%.

COPYRIGHT VIOLATION NOTICE: “$1.49 Billion in Sales Expected for ABM Industries Incorporated (ABM) This Quarter” was originally reported by Watch List News and is owned by of Watch List News. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/1-49-billion-in-sales-expected-for-abm-industries-incorporated-abm-this-quarter/1723537.html.

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.

Get a free copy of the Zacks research report on ABM Industries (ABM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for ABM Industries (NYSE:ABM)

Receive News & Ratings for ABM Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.