ABM Industries (NYSE:ABM – Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $3.60-$3.70 for the period, compared to the consensus estimate of $3.64. The company issued revenue guidance of -.
ABM Industries Stock Down 2.5 %
ABM opened at $38.26 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. ABM Industries has a 1-year low of $37.90 and a 1-year high of $54.00. The company has a market capitalization of $2.53 billion, a PE ratio of 12.03 and a beta of 1.04. The firm's 50 day simple moving average is $44.55 and its two-hundred day simple moving average is $45.26.
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ABM Industries (NYSE:ABM – Get Rating) last released its quarterly earnings results on Friday, September 9th. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.91 billion. ABM Industries had a net margin of 2.88% and a return on equity of 14.88%. The company's quarterly revenue was up 27.1% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that ABM Industries will post 3.69 EPS for the current year.
ABM Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.78 annualized dividend and a dividend yield of 2.04%. ABM Industries's payout ratio is 24.53%.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Robert W. Baird decreased their price objective on shares of ABM Industries from $53.00 to $52.00 and set an outperform rating on the stock in a research report on Monday, September 12th. TheStreet raised shares of ABM Industries from a c+ rating to a b- rating in a research note on Monday, August 15th. Finally, StockNews.com cut shares of ABM Industries from a buy rating to a hold rating in a research note on Monday, June 13th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $57.33.
Insider Activity at ABM Industries
In other news, CAO Dean A. Chin sold 1,209 shares of the business's stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $48.00, for a total value of $58,032.00. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $1,128,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in ABM. State Street Corp grew its position in ABM Industries by 19.3% in the first quarter. State Street Corp now owns 7,059,579 shares of the business services provider's stock worth $325,023,000 after acquiring an additional 1,140,097 shares in the last quarter. Goldman Sachs Group Inc. grew its position in ABM Industries by 353.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider's stock worth $60,641,000 after acquiring an additional 1,088,389 shares in the last quarter. FMR LLC grew its position in ABM Industries by 178.7% in the second quarter. FMR LLC now owns 398,426 shares of the business services provider's stock worth $17,300,000 after acquiring an additional 255,471 shares in the last quarter. Wasatch Advisors Inc. boosted its position in shares of ABM Industries by 11.3% during the first quarter. Wasatch Advisors Inc. now owns 676,742 shares of the business services provider's stock valued at $31,157,000 after buying an additional 68,587 shares during the period. Finally, Jane Street Group LLC boosted its position in shares of ABM Industries by 887.4% during the first quarter. Jane Street Group LLC now owns 74,320 shares of the business services provider's stock valued at $3,422,000 after buying an additional 66,793 shares during the period. Hedge funds and other institutional investors own 94.21% of the company's stock.
ABM Industries Company Profile
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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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