ABM Industries (ABM) Updates FY18 Earnings Guidance
ABM Industries (NYSE:ABM) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.70-1.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.04.
A number of brokerages have recently issued reports on ABM. Robert W. Baird set a $47.00 price objective on shares of ABM Industries and gave the company a buy rating in a research report on Thursday, August 24th. BidaskClub raised shares of ABM Industries from a buy rating to a strong-buy rating in a research report on Saturday, August 26th. KeyCorp raised shares of ABM Industries from a sector weight rating to an overweight rating and set a $48.00 price objective for the company in a research report on Monday, September 11th. Finally, Zacks Investment Research raised shares of ABM Industries from a strong sell rating to a hold rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. ABM Industries has an average rating of Buy and an average price target of $48.20.
ABM Industries (NYSE:ABM) opened at $38.18 on Friday. The firm has a market cap of $2,849.70, a price-to-earnings ratio of 25.00 and a beta of 0.80. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.27. ABM Industries has a 1-year low of $36.61 and a 1-year high of $45.12.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Thursday, January 4th will be issued a $0.175 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $0.70 annualized dividend and a yield of 1.83%. This is an increase from ABM Industries’s previous quarterly dividend of $0.17. ABM Industries’s dividend payout ratio is currently 971.57%.
In related news, SVP Dean A. Chin sold 880 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.
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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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