ABM Industries Incorporated (NYSE:ABM – Get Rating) – Investment analysts at KeyCorp decreased their Q4 2022 earnings per share (EPS) estimates for ABM Industries in a report issued on Wednesday, September 14th. KeyCorp analyst S. Eastman now anticipates that the business services provider will earn $0.89 per share for the quarter, down from their prior forecast of $0.90. The consensus estimate for ABM Industries' current full-year earnings is $3.66 per share. KeyCorp also issued estimates for ABM Industries' FY2023 earnings at $3.76 EPS.
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Several other equities research analysts have also commented on the company. StockNews.com lowered ABM Industries from a "buy" rating to a "hold" rating in a research report on Monday, June 13th. Robert W. Baird lowered their price objective on ABM Industries from $53.00 to $52.00 and set an "outperform" rating on the stock in a research report on Monday, September 12th. Finally, TheStreet upgraded ABM Industries from a "c+" rating to a "b-" rating in a research report on Monday, August 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, ABM Industries presently has an average rating of "Moderate Buy" and an average target price of $57.33.
ABM Industries Price Performance
Shares of NYSE ABM opened at $40.13 on Friday. The business's 50 day moving average price is $44.85 and its 200 day moving average price is $45.48. The firm has a market cap of $2.65 billion, a P/E ratio of 12.62 and a beta of 1.04. ABM Industries has a 52 week low of $38.08 and a 52 week high of $54.00. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.60.
ABM Industries (NYSE:ABM – Get Rating) last issued its earnings results on Friday, September 9th. The business services provider reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.91 billion. ABM Industries had a return on equity of 14.88% and a net margin of 2.88%. ABM Industries's revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share.
ABM Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Wednesday, October 5th. ABM Industries's payout ratio is 24.53%.
Insider Transactions at ABM Industries
In other news, CAO Dean A. Chin sold 1,209 shares of the company's stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $48.00, for a total transaction of $58,032.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at approximately $1,128,720. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in ABM. Pinebridge Investments L.P. raised its stake in shares of ABM Industries by 487.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 587 shares of the business services provider's stock worth $25,000 after buying an additional 487 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in shares of ABM Industries during the 2nd quarter worth approximately $38,000. Operose Advisors LLC acquired a new position in ABM Industries in the 1st quarter valued at $41,000. Assetmark Inc. raised its stake in ABM Industries by 104.1% in the 2nd quarter. Assetmark Inc. now owns 951 shares of the business services provider's stock valued at $41,000 after purchasing an additional 485 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in ABM Industries by 1,691.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,150 shares of the business services provider's stock valued at $92,000 after purchasing an additional 2,030 shares during the last quarter. 94.21% of the stock is owned by institutional investors and hedge funds.
About ABM Industries
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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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