$1.66 Billion in Sales Expected for ABM Industries, Inc. (ABM) This Quarter

Analysts predict that ABM Industries, Inc. (NYSE:ABM) will post $1.66 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for ABM Industries’ earnings, with estimates ranging from $1.65 billion to $1.67 billion. ABM Industries posted sales of $1.62 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The firm is expected to report its next quarterly earnings report on Thursday, September 5th.

On average, analysts expect that ABM Industries will report full year sales of $6.55 billion for the current financial year, with estimates ranging from $6.53 billion to $6.57 billion. For the next financial year, analysts anticipate that the business will report sales of $6.75 billion, with estimates ranging from $6.70 billion to $6.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover ABM Industries.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, June 5th. The business services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.06. ABM Industries had a return on equity of 8.86% and a net margin of 1.33%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business earned $0.47 EPS. ABM Industries’s revenue was up .9% on a year-over-year basis.

Several brokerages have weighed in on ABM. ValuEngine upgraded ABM Industries from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised ABM Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Maxim Group set a $45.00 price objective on ABM Industries and gave the stock a “buy” rating in a research report on Friday, April 12th. KeyCorp assumed coverage on ABM Industries in a research report on Friday, April 5th. They set a “sector weight” rating and a $36.83 price objective for the company. Finally, Robert W. Baird set a $37.00 price objective on ABM Industries and gave the stock a “hold” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.46.

NYSE ABM traded down $0.41 during trading hours on Tuesday, hitting $39.37. 5,735 shares of the company were exchanged, compared to its average volume of 241,974. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.54 and a quick ratio of 1.54. ABM Industries has a 52-week low of $25.64 and a 52-week high of $41.33. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 20.83 and a beta of 0.59.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be given a $0.18 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.83%. ABM Industries’s dividend payout ratio (DPR) is presently 38.10%.

In other ABM Industries news, insider Scott B. Salmirs sold 10,971 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $37.50, for a total transaction of $411,412.50. Following the completion of the sale, the insider now directly owns 157,091 shares of the company’s stock, valued at approximately $5,890,912.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Scott J. Giacobbe sold 7,143 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $36.90, for a total value of $263,576.70. Following the sale, the chief operating officer now directly owns 76,545 shares of the company’s stock, valued at $2,824,510.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,872 shares of company stock valued at $1,003,677. Insiders own 0.94% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in shares of ABM Industries by 2.4% during the 4th quarter. BlackRock Inc. now owns 9,834,631 shares of the business services provider’s stock worth $315,790,000 after buying an additional 233,113 shares in the last quarter. FMR LLC raised its stake in shares of ABM Industries by 5.3% during the 4th quarter. FMR LLC now owns 7,221,374 shares of the business services provider’s stock worth $231,878,000 after buying an additional 360,214 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ABM Industries by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,381,930 shares of the business services provider’s stock worth $159,282,000 after buying an additional 73,720 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of ABM Industries by 14.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,895,231 shares of the business services provider’s stock worth $68,892,000 after buying an additional 232,181 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of ABM Industries by 0.3% during the 1st quarter. Northern Trust Corp now owns 1,703,881 shares of the business services provider’s stock worth $61,935,000 after buying an additional 5,515 shares in the last quarter.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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Earnings History and Estimates for ABM Industries (NYSE:ABM)

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