ABM Industries (NYSE:ABM) Announces Earnings Results

ABM Industries (NYSE:ABM) announced its quarterly earnings data on Tuesday. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.33, MarketWatch Earnings reports. ABM Industries had a negative net margin of 0.08% and a positive return on equity of 10.77%. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue was down 15.4% on a year-over-year basis.

ABM opened at $37.78 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $2.57 billion, a PE ratio of 16.05 and a beta of 1.28. ABM Industries has a 1-year low of $19.79 and a 1-year high of $40.78. The firm has a 50-day moving average price of $37.27 and a two-hundred day moving average price of $33.19.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Wednesday, September 30th. ABM Industries’s dividend payout ratio (DPR) is currently 36.10%.

In other ABM Industries news, CFO Dean A. Chin sold 3,717 shares of the firm’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $35.25, for a total value of $131,024.25. Following the completion of the sale, the chief financial officer now owns 30,900 shares in the company, valued at approximately $1,089,225. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rene Jacobsen sold 716 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $37.00, for a total transaction of $26,492.00. The disclosure for this sale can be found here. Insiders sold a total of 5,149 shares of company stock valued at $185,748 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

ABM has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of ABM Industries from $23.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, June 19th. CL King upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday, June 19th. ValuEngine cut shares of ABM Industries from a “hold” rating to a “sell” rating in a research note on Thursday. KeyCorp increased their price objective on shares of ABM Industries from $31.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, Sidoti cut shares of ABM Industries from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. ABM Industries currently has a consensus rating of “Hold” and an average target price of $40.00.

About ABM Industries

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 for ABM Industries (NYSE:ABM)

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