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
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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