ABM Industries (NYSE:ABM) Updates FY 2022 Earnings Guidance

ABM Industries (NYSE:ABMGet Rating) updated its FY 2022 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.60-$3.70 for the period, compared to the consensus estimate of $3.64. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of ABM Industries from $53.00 to $52.00 and set an outperform rating for the company in a research note on Monday, September 12th. StockNews.com lowered shares of ABM Industries from a buy rating to a hold rating in a report on Monday, June 13th. Finally, TheStreet raised shares of ABM Industries from a c+ rating to a b- rating in a report on Monday, August 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ABM Industries currently has a consensus rating of Moderate Buy and an average price target of $57.33.

ABM Industries Trading Down 2.7 %

Shares of ABM stock traded down $1.06 on Friday, hitting $38.17. The stock had a trading volume of 14,332 shares, compared to its average volume of 334,145. ABM Industries has a twelve month low of $38.08 and a twelve month high of $54.00. The firm has a market cap of $2.52 billion, a P/E ratio of 12.34 and a beta of 1.04. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The company has a fifty day moving average price of $44.64 and a two-hundred day moving average price of $45.32.

ABM Industries (NYSE:ABMGet Rating) last posted its quarterly earnings data on Friday, September 9th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.91 billion. ABM Industries had a net margin of 2.88% and a return on equity of 14.88%. The firm’s revenue was up 27.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. As a group, analysts forecast that ABM Industries will post 3.68 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be issued a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 2.04%. ABM Industries’s payout ratio is 24.53%.

Insider Activity

In other ABM Industries news, CAO Dean A. Chin sold 1,209 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $48.00, for a total transaction of $58,032.00. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $1,128,720. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Institutional Trading of ABM Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in ABM Industries in the 1st quarter valued at approximately $284,000. Bank of Montreal Can lifted its stake in ABM Industries by 2.2% in the 1st quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock valued at $1,000,000 after purchasing an additional 473 shares during the last quarter. MetLife Investment Management LLC lifted its stake in ABM Industries by 53.8% in the 1st quarter. MetLife Investment Management LLC now owns 35,527 shares of the business services provider’s stock valued at $1,636,000 after purchasing an additional 12,425 shares during the last quarter. Rhumbline Advisers lifted its stake in ABM Industries by 2.2% in the 1st quarter. Rhumbline Advisers now owns 193,026 shares of the business services provider’s stock valued at $8,887,000 after purchasing an additional 4,196 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of ABM Industries by 2.1% during the first quarter. Great West Life Assurance Co. Can now owns 60,453 shares of the business services provider’s stock valued at $2,860,000 after acquiring an additional 1,246 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.

About ABM Industries

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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.

See Also

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

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