ABM Industries Incorporated (NYSE:ABM) Forecasted to Earn FY2024 Earnings of $3.43 Per Share

ABM Industries Incorporated (NYSE:ABM) – Research analysts at Zacks Research issued their FY2024 earnings per share (EPS) estimates for ABM Industries in a research report issued on Wednesday, July 24th. Zacks Research analyst R. Department expects that the business services provider will post earnings per share of $3.43 for the year. The consensus estimate for ABM Industries’ current full-year earnings is $3.47 per share.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS.

ABM has been the subject of a number of other reports. StockNews.com raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Robert W. Baird lifted their price objective on ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, June 10th. Finally, UBS Group increased their target price on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, ABM Industries has a consensus rating of “Hold” and an average price target of $48.80.

ABM Industries Stock Performance

ABM Industries stock opened at $54.61 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $3.43 billion, a PE ratio of 14.30 and a beta of 1.16. The company has a 50 day moving average price of $49.93 and a 200-day moving average price of $45.28. ABM Industries has a fifty-two week low of $37.61 and a fifty-two week high of $56.02.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in ABM Industries in the fourth quarter worth about $25,000. SRS Capital Advisors Inc. boosted its stake in ABM Industries by 323.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after purchasing an additional 511 shares in the last quarter. Adirondack Trust Co. grew its position in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after purchasing an additional 500 shares during the last quarter. Lazard Asset Management LLC increased its stake in ABM Industries by 2,102.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of ABM Industries in the fourth quarter worth $54,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the sale, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,063,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Rene Jacobsen sold 40,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the transaction, the chief operating officer now directly owns 72,062 shares in the company, valued at $3,723,443.54. The disclosure for this sale can be found here. Insiders have sold 79,657 shares of company stock worth $3,960,504 over the last quarter. Insiders own 1.04% of the company’s stock.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s payout ratio is currently 23.56%.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.