Brokerages Anticipate ABM Industries Incorporated (NYSE:ABM) Will Post Quarterly Sales of $1.92 Billion

Equities analysts expect that ABM Industries Incorporated (NYSE:ABM – Get Rating) will post sales of $1.92 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ABM Industries’ earnings. The lowest sales estimate is $1.87 billion and the highest is $1.96 billion. ABM Industries reported sales of $1.50 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 28%. The business is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that ABM Industries will report full year sales of $7.84 billion for the current financial year, with estimates ranging from $7.63 billion to $8.05 billion. For the next financial year, analysts anticipate that the business will post sales of $8.16 billion, with estimates ranging from $7.90 billion to $8.40 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover ABM Industries.

ABM Industries (NYSE:ABM – Get Rating) last issued its quarterly earnings results on Tuesday, March 8th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.15. ABM Industries had a return on equity of 14.86% and a net margin of 1.91%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 29.7% on a year-over-year basis.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research report on Friday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on ABM Industries in a research report on Tuesday, March 29th. They set a “buy” rating and a $62.00 price target on the stock. Maxim Group reiterated a “hold” rating on shares of ABM Industries in a research report on Friday, December 24th. KeyCorp decreased their target price on ABM Industries from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, December 21st. Finally, StockNews.com initiated coverage on ABM Industries in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.67.

In other news, Director Linda Chavez sold 2,008 shares of ABM Industries stock in a transaction on Friday, March 11th. The stock was sold at an average price of $46.13, for a total transaction of $92,629.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott B. Salmirs sold 8,747 shares of ABM Industries stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $45.40, for a total value of $397,113.80. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new stake in ABM Industries during the third quarter valued at $42,000. KBC Group NV acquired a new stake in ABM Industries during the third quarter valued at $42,000. Banque Cantonale Vaudoise acquired a new stake in ABM Industries during the third quarter valued at $45,000. Pinebridge Investments L.P. acquired a new stake in ABM Industries during the fourth quarter valued at $45,000. Finally, Trust Co. of Vermont acquired a new stake in ABM Industries during the fourth quarter valued at $47,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Shares of ABM stock traded up $0.79 during mid-day trading on Monday, hitting $50.09. 498,851 shares of the stock traded hands, compared to its average volume of 471,273. ABM Industries has a twelve month low of $38.44 and a twelve month high of $54.46. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 26.79 and a beta of 1.23. The company’s 50-day simple moving average is $45.24 and its 200-day simple moving average is $44.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 1.17.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 2nd. Investors of record on Thursday, April 7th will be issued a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Wednesday, April 6th. ABM Industries’s payout ratio is 41.71%.

About ABM Industries (Get Rating)

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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