Wall Street analysts predict that ABM Industries Incorporated (NYSE:ABM) will announce $1.54 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for ABM Industries’ earnings, with the lowest sales estimate coming in at $1.50 billion and the highest estimate coming in at $1.62 billion. ABM Industries posted sales of $1.50 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.7%. The company is expected to issue its next quarterly earnings results on Wednesday, June 16th.
According to Zacks, analysts expect that ABM Industries will report full-year sales of $6.23 billion for the current financial year, with estimates ranging from $6.08 billion to $6.50 billion. For the next financial year, analysts forecast that the company will post sales of $6.53 billion, with estimates ranging from $6.38 billion to $6.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover ABM Industries.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Monday, March 8th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.40. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. ABM Industries had a net margin of 0.01% and a return on equity of 11.07%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS.
A number of research analysts recently weighed in on ABM shares. CL King lifted their price objective on shares of ABM Industries from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday, December 21st. TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b” rating in a report on Tuesday, March 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. ABM Industries currently has a consensus rating of “Buy” and an average target price of $40.50.
ABM Industries stock opened at $51.92 on Tuesday. The company’s 50 day simple moving average is $47.52 and its 200-day simple moving average is $40.66. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -2,594.70 and a beta of 1.25. ABM Industries has a 1 year low of $23.65 and a 1 year high of $55.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.46 and a current ratio of 1.46.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Thursday, April 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, March 31st. ABM Industries’s dividend payout ratio (DPR) is presently 31.28%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in ABM Industries by 4.2% during the 4th quarter. BlackRock Inc. now owns 10,294,269 shares of the business services provider’s stock worth $389,535,000 after acquiring an additional 415,539 shares in the last quarter. Victory Capital Management Inc. grew its holdings in ABM Industries by 17.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,874,433 shares of the business services provider’s stock worth $70,929,000 after acquiring an additional 275,945 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of ABM Industries by 15.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,003,764 shares of the business services provider’s stock worth $37,982,000 after buying an additional 131,302 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ABM Industries by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 963,945 shares of the business services provider’s stock worth $36,475,000 after buying an additional 48,212 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of ABM Industries during the 4th quarter worth approximately $36,290,000. Institutional investors own 90.77% of the company’s stock.
About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.
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