Brokerages Expect ABM Industries, Inc. (NYSE:ABM) Will Announce Earnings of $0.62 Per Share

Wall Street brokerages expect ABM Industries, Inc. (NYSE:ABM) to announce earnings per share (EPS) of $0.62 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for ABM Industries’ earnings, with estimates ranging from $0.61 to $0.63. ABM Industries reported earnings of $0.58 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.9%. The business is expected to report its next earnings results on Tuesday, December 17th.

According to Zacks, analysts expect that ABM Industries will report full year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.01. For the next financial year, analysts forecast that the firm will post earnings of $2.09 per share, with EPS estimates ranging from $2.03 to $2.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover ABM Industries.

ABM Industries (NYSE:ABM) last released its earnings results on Thursday, September 5th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a net margin of 1.37% and a return on equity of 8.90%. ABM Industries’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share.



Several equities analysts have recently weighed in on ABM shares. ValuEngine lowered shares of ABM Industries from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Robert W. Baird set a $38.00 price objective on shares of ABM Industries and gave the company a “hold” rating in a report on Friday, September 6th. Maxim Group set a $50.00 price objective on shares of ABM Industries and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, William Blair started coverage on shares of ABM Industries in a report on Thursday, August 15th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. ABM Industries has a consensus rating of “Hold” and an average price target of $41.96.

ABM stock traded down $0.35 during midday trading on Tuesday, hitting $35.88. The stock had a trading volume of 229,922 shares, compared to its average volume of 428,655. The firm has a market cap of $2.39 billion, a P/E ratio of 18.98 and a beta of 0.64. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.58. ABM Industries has a 1-year low of $25.64 and a 1-year high of $42.67. The business has a fifty day moving average price of $37.56 and a two-hundred day moving average price of $38.00.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be issued a dividend of $0.18 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.01%. ABM Industries’s dividend payout ratio is currently 38.10%.

In other news, Director Linda Chavez sold 6,000 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the completion of the sale, the director now directly owns 21,070 shares of the company’s stock, valued at $842,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rene Jacobsen sold 1,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,904 shares of company stock valued at $806,797. 0.94% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in shares of ABM Industries by 1.3% during the second quarter. State of Alaska Department of Revenue now owns 22,596 shares of the business services provider’s stock worth $903,000 after acquiring an additional 281 shares in the last quarter. Van ECK Associates Corp increased its position in shares of ABM Industries by 1.1% during the second quarter. Van ECK Associates Corp now owns 31,900 shares of the business services provider’s stock worth $1,276,000 after acquiring an additional 333 shares in the last quarter. Investors Research Corp increased its position in shares of ABM Industries by 11.3% during the second quarter. Investors Research Corp now owns 3,450 shares of the business services provider’s stock worth $138,000 after acquiring an additional 350 shares in the last quarter. Novare Capital Management LLC increased its position in shares of ABM Industries by 0.3% during the first quarter. Novare Capital Management LLC now owns 123,075 shares of the business services provider’s stock worth $4,474,000 after acquiring an additional 385 shares in the last quarter. Finally, Holocene Advisors LP increased its position in shares of ABM Industries by 5.0% during the second quarter. Holocene Advisors LP now owns 9,094 shares of the business services provider’s stock worth $364,000 after acquiring an additional 435 shares in the last quarter. 99.46% of the stock is owned by institutional investors.

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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