ABM Industries (NYSE:ABM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

ABM Industries (NYSE:ABMGet Rating) released its quarterly earnings results on Wednesday. The business services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05, Briefing.com reports. ABM Industries had a return on equity of 15.11% and a net margin of 2.06%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 26.9% compared to the same quarter last year. ABM Industries updated its FY 2022 guidance to $3.50-$3.70 EPS and its FY22 guidance to $3.50-$3.70 EPS.

Shares of NYSE:ABM traded down $0.99 on Friday, reaching $42.49. 7,091 shares of the company traded hands, compared to its average volume of 391,266. ABM Industries has a fifty-two week low of $38.44 and a fifty-two week high of $54.00. The company’s 50 day moving average is $47.71 and its 200-day moving average is $45.03. The stock has a market capitalization of $2.84 billion, a PE ratio of 20.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.17 and a quick ratio of 1.17.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, July 7th will be given a dividend of $0.195 per share. The ex-dividend date of this dividend is Wednesday, July 6th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.84%. ABM Industries’s dividend payout ratio (DPR) is presently 36.62%.

In other ABM Industries news, CAO Dean A. Chin sold 3,657 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $48.13, for a total transaction of $176,011.41. Following the sale, the chief accounting officer now directly owns 26,052 shares of the company’s stock, valued at approximately $1,253,882.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raul Javier Valentin sold 1,109 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $45.64, for a total transaction of $50,614.76. Following the sale, the executive vice president now directly owns 14,337 shares in the company, valued at $654,340.68. The disclosure for this sale can be found here. Insiders have sold a total of 22,132 shares of company stock valued at $1,049,088 in the last quarter. Insiders own 0.54% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in shares of ABM Industries by 2.2% in the first quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock worth $1,000,000 after acquiring an additional 473 shares during the last quarter. Stifel Financial Corp boosted its holdings in ABM Industries by 17.8% during the fourth quarter. Stifel Financial Corp now owns 19,830 shares of the business services provider’s stock valued at $810,000 after acquiring an additional 2,991 shares during the period. Sei Investments Co. boosted its holdings in ABM Industries by 15.0% during the first quarter. Sei Investments Co. now owns 17,095 shares of the business services provider’s stock valued at $795,000 after acquiring an additional 2,232 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in ABM Industries by 8.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 18,775 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 1,410 shares during the period. Finally, Easterly Investment Partners LLC bought a new stake in ABM Industries during the first quarter valued at about $459,000. 94.65% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on ABM. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “hold” rating and set a $50.00 price objective for the company. in a report on Friday. 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 raised ABM Industries from a “hold” rating to a “buy” rating in a report on Friday, May 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, ABM Industries currently has an average rating of “Buy” and an average price target of $56.67.

ABM Industries Company Profile (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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Earnings History for ABM Industries (NYSE:ABM)

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