ABM Industries (NYSE:ABM – Get Rating) issued an update on its FY 2022 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.60-$3.70 for the period, compared to the consensus earnings per share estimate of $3.64. The company issued revenue guidance of -.
Wall Street Analyst Weigh In
Several research firms have weighed in on ABM. TheStreet upgraded ABM Industries from a c+ rating to a b- rating in a research report on Monday, August 15th. StockNews.com lowered shares of ABM Industries from a buy rating to a hold rating in a research report on Monday, June 13th. Finally, Robert W. Baird cut their price objective on shares of ABM Industries from $53.00 to $52.00 and set an outperform rating for the company in a report on Monday, September 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $57.33.
Get ABM Industries alerts:ABM Industries Stock Performance
ABM opened at $40.13 on Friday. The firm has a market cap of $2.65 billion, a P/E ratio of 12.62 and a beta of 1.04. The business's fifty day moving average is $44.85 and its 200-day moving average is $45.48. ABM Industries has a 52-week low of $38.08 and a 52-week high of $54.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.18 and a current ratio of 1.21.
ABM Industries (NYSE:ABM – Get Rating) last announced its quarterly earnings data on Friday, September 9th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The firm 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 business's revenue for the quarter was up 27.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Sell-side analysts expect that ABM Industries will post 3.68 EPS for the current fiscal year.ABM Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Shareholders 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 yield of 1.94%. ABM Industries's dividend payout ratio is currently 24.53%.
Insider Buying and Selling at ABM Industries
In other news, CAO Dean A. Chin sold 1,209 shares of the business's stock in a transaction 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 owns 23,515 shares of the company's stock, valued at approximately $1,128,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company's stock.
Institutional Investors Weigh In On ABM Industries
A number of hedge funds have recently made changes to their positions in ABM. Walleye Capital LLC acquired a new position in ABM Industries during the 2nd quarter worth approximately $202,000. Delphia USA Inc. bought a new position in shares of ABM Industries in the 1st quarter valued at $202,000. Ethic Inc. acquired a new stake in shares of ABM Industries during the 1st quarter valued at $212,000. Wellington Management Group LLP bought a new stake in ABM Industries during the 1st quarter worth $253,000. Finally, Captrust Financial Advisors increased its holdings in ABM Industries by 18.5% in the 1st quarter. Captrust Financial Advisors now owns 5,913 shares of the business services provider's stock worth $272,000 after purchasing an additional 922 shares in the last quarter. 94.21% of the stock is currently 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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