ABM Industries (NYSE:ABM) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

ABM Industries (NYSE:ABM) announced its quarterly earnings results on Monday. The business services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.71 by $0.11, Briefing.com reports. ABM Industries had a net margin of 0.80% and a return on equity of 13.90%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $0.60 earnings per share. ABM Industries’s revenue was up .1% compared to the same quarter last year.

ABM Industries stock traded down $0.39 during midday trading on Wednesday, reaching $48.54. The stock had a trading volume of 497,487 shares, compared to its average volume of 388,904. The firm has a fifty day moving average of $51.48. ABM Industries has a twelve month low of $30.41 and a twelve month high of $55.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 73.55 and a beta of 1.39.

ABM has been the topic of several analyst reports. KeyCorp raised their price target on shares of ABM Industries from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, April 22nd. Zacks Investment Research lowered shares of ABM Industries from a “buy” rating to a “hold” rating and set a $56.00 price objective on the stock. in a research note on Tuesday, May 11th. Finally, TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b” rating in a research note on Tuesday, March 9th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. ABM Industries presently has a consensus rating of “Buy” and a consensus price target of $52.25.

In related news, EVP Andrea R. Newborn sold 7,807 shares of the firm’s stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $53.05, for a total value of $414,161.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 15th. The stock was sold at an average price of $53.03, for a total transaction of $1,325,750.00. The disclosure for this sale can be found here. Insiders sold a total of 47,372 shares of company stock valued at $2,504,283 in the last ninety days. Company insiders own 0.47% of the company’s stock.

About ABM Industries

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.

Further Reading: What is a dead cat bounce?

Earnings History for ABM Industries (NYSE:ABM)

Receive News & Ratings for ABM Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries and related companies with MarketBeat.com's FREE daily email newsletter.