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Brokerage firms expect ABM Industries Incorporated (NYSE: ABM) to report earnings per share (EPS) of $ 0.83 for the current fiscal quarter, Zacks investment research reports. Three analysts made estimates for ABM Industries’ earnings. The lowest EPS estimate is $ 0.78 and the highest is $ 0.89. ABM Industries reported earnings per share of $ 1.01 for the same quarter last year, suggesting a negative year-over-year growth rate of 17.8%. The company is expected to announce its next quarterly results on Tuesday, March 8.
On average, analysts predict that ABM Industries will report annual earnings of $ 3.41 per share for the current fiscal year, with EPS estimates ranging from $ 3.32 to $ 3.46. For next year, analysts predict the company will report earnings of $ 3.77 per share, with EPS estimates ranging from $ 3.68 to $ 3.87. Zacks’ earnings per share calculations are an average based on a survey of research analysts who cover ABM Industries.
ABM Industries (NYSE: ABM) last released its quarterly results on Wednesday, December 15. The business services provider reported earnings per share of $ 0.85 for the quarter, beating analysts’ consensus estimates of $ 0.80 by $ 0.05. ABM Industries had a net margin of 2.03% and a return on equity of 15.31%. During the same period of the previous year, the company posted EPS of $ 0.69.
Several equity research analysts weighed on ABM shares. The Maxim Group reaffirmed a “conservation” note on ABM Industries’ stock in a research report on Friday. KeyCorp reduced its price target on ABM Industries from $ 60.00 to $ 55.00 and set an “overweight” rating on the stock in a research report published on Tuesday, December 21. Finally, Zacks investment research reduce ABM Industries from a “buy†rating to a “hold†rating and set a target price of $ 41.00 for the share. in a research report on Tuesday, December 21. Three equity research analysts rated the stock with a conservation rating and one assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $ 48.00.
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In other ABM Industries news, the director Linda chavez sold 2,532 shares of the company in a transaction that took place on Monday, October 4. The shares were sold for an average price of $ 47.01, for a total value of $ 119,029.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s shares.
Several hedge funds have recently increased or reduced their stakes in the company. BlackRock Inc. increased its position in shares of ABM Industries by 3.1% during the 2nd quarter. BlackRock Inc. now owns 11,599,103 shares of the business service provider valued at $ 514,421,000 after purchasing an additional 343,699 shares during the period. Vanguard Group Inc. increased its stake in ABM Industries by 10.4% in the second quarter. Vanguard Group Inc. now owns 8,506,210 shares of the business services provider valued at $ 377,251,000 after purchasing an additional 800,888 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in ABM Industries by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 4,146,878 shares of the business services provider valued at $ 186,654,000 after purchasing an additional 64,669 shares in the last quarter. Vulcan Value Partners LLC increased its stake in ABM Industries by 19.3% in the 3rd quarter. Vulcan Value Partners LLC now owns 1,699,988 shares of the business services provider valued at $ 76,516,000 after purchasing an additional 275,424 shares in the last quarter. Finally, Boston Partners increased its stake in ABM Industries by 0.3% in the second quarter. Boston Partners now owns 1,608,736 shares of the business services provider valued at $ 71,034,000 after purchasing an additional 4,608 shares in the last quarter. 92.04% of the shares are currently held by hedge funds and other institutional investors.
ABM stock traded down $ 0.07 in Tuesday’s session, reaching $ 41.31. The company had a trading volume of 7,647 shares, compared to an average volume of 513,355. The company has a 50-day simple moving average of $ 45.29 and a 200-day simple moving average of $ 45.88. The company has a market cap of $ 2.78 billion, a price-to-earnings ratio of 22.21 and a beta of 1.35. The company has a debt ratio of 0.53, a quick ratio of 1.09, and a current ratio of 1.09. ABM Industries has a twelve month low of $ 36.31 and a twelve month high of $ 55.48.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 7. Investors of record on Thursday, January 6 will receive a dividend of $ 0.195. The ex-dividend date for this dividend is Wednesday January 5. This is a positive change from ABM Industries’ previous quarterly dividend of $ 0.19. This represents a dividend of $ 0.78 on an annualized basis and a return of 1.89%. ABM Industries’ dividend payout ratio (DPR) is currently 40.86%.
About ABM Industries
ABM Industries, Inc is engaged in the provision of installation services for commercial, industrial and institutional buildings. It operates through the following segments: business and industry, aviation, technology and manufacturing, education and technical solutions. The Business and Industry segment encompasses janitorial, facilities engineering and parking services for commercial real estate and sports and entertainment venues.
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