ABM Industries (NYSE:ABM – Get Rating) released its earnings results on Friday. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04, Briefing.com reports. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.91 billion. ABM Industries had a return on equity of 14.99% and a net margin of 2.06%. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. ABM Industries updated its FY 2022 guidance to $3.60-$3.70 EPS and its FY22 guidance to $3.60-3.70 EPS.
ABM Industries Stock Performance
Shares of NYSE:ABM traded down $0.06 during midday trading on Friday, hitting $46.00. The company’s stock had a trading volume of 480,037 shares, compared to its average volume of 206,646. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 14.47 and a beta of 1.04. The stock’s 50 day simple moving average is $44.96 and its 200 day simple moving average is $45.60. ABM Industries has a fifty-two week low of $38.08 and a fifty-two week high of $54.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.18 and a current ratio of 1.18.
Wall Street Analyst Weigh In
ABM has been the subject of several recent research reports. TheStreet upgraded ABM Industries from a “c+” rating to a “b-” rating in a report on Monday, August 15th. Robert W. Baird increased their price objective on ABM Industries from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, August 19th. Finally, StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a report on Monday, June 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.67.
Insider Buying and Selling
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Delphia USA Inc. bought a new position in ABM Industries during the first quarter worth about $202,000. Ethic Inc. bought a new position in shares of ABM Industries in the first quarter valued at approximately $212,000. Walleye Capital LLC bought a new position in shares of ABM Industries in the second quarter valued at approximately $202,000. Wellington Management Group LLP bought a new position in shares of ABM Industries in the first quarter valued at approximately $253,000. Finally, Captrust Financial Advisors raised its stake in shares of ABM Industries by 18.5% in the first quarter. Captrust Financial Advisors now owns 5,913 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 922 shares during the last quarter. Institutional investors own 94.21% of the company’s stock.
ABM Industries Company Profile
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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