Wall Street brokerages expect ABM Industries, Inc. (NYSE:ABM) to post sales of $1.31 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for ABM Industries’ earnings. The lowest sales estimate is $1.3 billion and the highest is $1.33 billion. ABM Industries reported sales of $1.26 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The firm is expected to report its next quarterly earnings results on Wednesday, June 14th.
According to Zacks, analysts expect that ABM Industries will report full-year sales of $1.31 billion for the current year, with estimates ranging from $5.32 billion to $5.34 billion. For the next year, analysts anticipate that the company will post sales of $5.5 billion per share, with estimates ranging from $5.48 billion to $5.52 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover ABM Industries.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Tuesday, March 7th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.07. ABM Industries had a net margin of 1.11% and a return on equity of 10.00%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 4.6% on a year-over-year basis.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Robert W. Baird upgraded shares of ABM Industries from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $46.00 to $50.00 in a research report on Thursday, March 9th.
In other ABM Industries news, SVP Dean A. Chin sold 1,000 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $42.72, for a total transaction of $42,720.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James P. Mcclure sold 8,447 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $40.39, for a total transaction of $341,174.33. Following the transaction, the insider now owns 144,150 shares in the company, valued at approximately $5,822,218.50. The disclosure for this sale can be found here. Insiders have sold 29,208 shares of company stock worth $1,236,679 in the last quarter. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in ABM Industries by 35,805.5% in the first quarter. BlackRock Inc. now owns 7,121,861 shares of the business services provider’s stock worth $310,513,000 after buying an additional 7,102,026 shares during the period. State Street Corp boosted its position in ABM Industries by 236.6% in the first quarter. State Street Corp now owns 4,414,087 shares of the business services provider’s stock worth $192,454,000 after buying an additional 3,102,800 shares during the period. Norges Bank purchased a new position in ABM Industries during the fourth quarter worth $26,617,000. FMR LLC purchased a new position in ABM Industries during the fourth quarter worth $19,696,000. Finally, Aberdeen Asset Management PLC UK boosted its position in ABM Industries by 56.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 938,843 shares of the business services provider’s stock worth $38,343,000 after buying an additional 337,722 shares during the period. Institutional investors and hedge funds own 89.88% of the company’s stock.
Shares of ABM Industries (NYSE:ABM) traded down 1.50% during midday trading on Wednesday, hitting $41.38. 52,156 shares of the stock were exchanged. The firm has a 50-day moving average of $42.85 and a 200-day moving average of $41.78. The company’s market capitalization is $2.30 billion. ABM Industries has a 1-year low of $32.29 and a 1-year high of $45.03.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Thursday, April 6th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, April 4th. ABM Industries’s dividend payout ratio (DPR) is 67.33%.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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