ABM Industries Incorporated (ABM) Given Average Rating of “Buy” by Analysts
Shares of ABM Industries Incorporated (NYSE:ABM) have been assigned an average rating of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $48.25.
ABM has been the subject of a number of analyst reports. Robert W. Baird set a $47.00 target price on shares of ABM Industries and gave the stock a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research raised shares of ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Monday, July 17th. BidaskClub raised shares of ABM Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Sidoti raised shares of ABM Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $55.00 in a research note on Thursday, July 13th. Finally, KeyCorp raised shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Monday, September 11th.
Shares of ABM Industries (ABM) opened at 42.80 on Friday. ABM Industries has a 52-week low of $37.12 and a 52-week high of $45.12. The company has a 50 day moving average of $41.88 and a 200-day moving average of $42.59. The company has a market cap of $2.79 billion, a PE ratio of 167.19 and a beta of 0.80.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $0.54 EPS. ABM Industries’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that ABM Industries will post $1.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is currently 251.86%.
In other ABM Industries news, insider James P. Mcclure sold 1,963 shares of ABM Industries stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total value of $87,235.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott J. Giacobbe sold 11,094 shares of ABM Industries stock in a transaction on Wednesday, September 13th. The shares were 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 directly owns 59,152 shares of the company’s stock, valued at $2,361,347.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,009 shares of company stock valued at $657,233. Insiders own 1.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in ABM Industries by 35,805.5% in the first quarter. BlackRock Inc. now owns 7,121,861 shares of the business services provider’s stock valued at $310,513,000 after purchasing an additional 7,102,026 shares in the last quarter. Vanguard Group Inc. increased its stake in ABM Industries by 4.6% in the second quarter. Vanguard Group Inc. now owns 5,506,110 shares of the business services provider’s stock valued at $228,614,000 after purchasing an additional 244,626 shares in the last quarter. State Street Corp increased its stake in ABM Industries by 236.6% in the first quarter. State Street Corp now owns 4,414,087 shares of the business services provider’s stock valued at $192,454,000 after purchasing an additional 3,102,800 shares in the last quarter. Northern Trust Corp increased its stake in ABM Industries by 3.6% in the second quarter. Northern Trust Corp now owns 1,637,601 shares of the business services provider’s stock valued at $67,993,000 after purchasing an additional 57,497 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in ABM Industries by 8.6% in the second quarter. Ameriprise Financial Inc. now owns 1,113,231 shares of the business services provider’s stock valued at $46,221,000 after purchasing an additional 88,604 shares in the last quarter. 78.22% of the stock is owned by hedge funds and other institutional investors.
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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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