Analysts Expect ABM Industries Incorporated (NYSE:ABM) Will Post Quarterly Sales of $1.92 Billion

Wall Street brokerages expect ABM Industries Incorporated (NYSE:ABMGet Rating) to 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 posted sales of $1.50 billion in the same quarter last year, which would indicate a positive year over year growth rate of 28%. The firm is expected to report its next earnings results after the market closes on Monday, January 1st.

On average, 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 forecast that the firm will report sales of $8.16 billion, with estimates ranging from $7.90 billion to $8.40 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover ABM Industries.

ABM Industries (NYSE:ABMGet 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, topping analysts’ consensus estimates of $0.79 by $0.15. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.83 billion. ABM Industries had a return on equity of 14.86% and a net margin of 1.91%. The business’s quarterly revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share.

Several research firms recently issued reports on ABM. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating and set a $48.00 target price on the stock. in a research report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft increased their price objective on ABM Industries from $62.00 to $65.00 in a report on Wednesday, April 20th. Finally, StockNews.com upgraded ABM Industries from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $56.00.

In related news, EVP Andrea R. Newborn sold 8,619 shares of ABM Industries stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $49.35, for a total transaction of $425,347.65. Following the completion of the transaction, the executive vice president now directly owns 40,976 shares in the company, valued at $2,022,165.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dean A. Chin sold 3,657 shares of ABM Industries stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $48.13, for a total value of $176,011.41. Following the transaction, the chief accounting officer now owns 26,052 shares of the company’s stock, valued at $1,253,882.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,140 shares of company stock valued at $1,141,717. Company insiders own 0.54% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ABM. Morgan Stanley grew its holdings in ABM Industries by 75.9% in the second quarter. Morgan Stanley now owns 380,239 shares of the business services provider’s stock valued at $16,863,000 after purchasing an additional 164,051 shares during the period. Advisor Group Holdings Inc. grew its holdings in ABM Industries by 3.0% in the third quarter. Advisor Group Holdings Inc. now owns 14,537 shares of the business services provider’s stock valued at $655,000 after purchasing an additional 423 shares during the period. Teacher Retirement System of Texas grew its holdings in ABM Industries by 22.8% in the third quarter. Teacher Retirement System of Texas now owns 10,800 shares of the business services provider’s stock valued at $486,000 after purchasing an additional 2,007 shares during the period. KBC Group NV acquired a new stake in ABM Industries in the third quarter valued at approximately $42,000. Finally, IndexIQ Advisors LLC grew its holdings in ABM Industries by 11.1% in the third quarter. IndexIQ Advisors LLC now owns 8,814 shares of the business services provider’s stock valued at $397,000 after purchasing an additional 883 shares during the period. 94.65% of the stock is currently owned by institutional investors.

Shares of ABM stock traded up $0.97 during trading hours on Friday, reaching $48.77. 206,760 shares of the company’s stock were exchanged, compared to its average volume of 512,273. The stock’s 50 day moving average is $47.02 and its 200-day moving average is $45.00. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 25.56 and a beta of 1.10. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. ABM Industries has a fifty-two week low of $38.44 and a fifty-two week high of $54.00.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, April 7th were paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was 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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