ABM Industries Incorporated (NYSE:ABM) Expected to Announce Quarterly Sales of $1.92 Billion

Equities analysts expect ABM Industries Incorporated (NYSE:ABM – Get Rating) to announce $1.92 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for ABM Industries’ earnings. The lowest sales estimate is $1.87 billion and the highest is $1.96 billion. ABM Industries posted sales of $1.50 billion in the same quarter last year, which would indicate a positive year over year growth rate of 28%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that ABM Industries will report full-year sales of $7.84 billion for the current financial year, with estimates ranging from $7.63 billion to $8.05 billion. For the next financial year, analysts expect that the firm will report sales of $8.16 billion, with estimates ranging from $7.90 billion to $8.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for ABM Industries.

ABM Industries (NYSE:ABM – Get Rating) last released its earnings results on Tuesday, March 8th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.79 by $0.15. ABM Industries had a net margin of 1.91% and a return on equity of 14.86%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The company’s quarterly revenue was up 29.7% compared to the same quarter last year.

A number of research firms recently issued reports on ABM. StockNews.com raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research report on Tuesday, May 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on ABM Industries from $62.00 to $65.00 in a research report on Wednesday, April 20th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $56.00.

ABM stock opened at $45.45 on Friday. ABM Industries has a one year low of $38.44 and a one year high of $54.00. The firm has a 50-day simple moving average of $46.88 and a two-hundred day simple moving average of $45.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 24.30 and a beta of 1.10.

The business also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Thursday, April 7th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, April 6th. ABM Industries’s dividend payout ratio (DPR) is presently 41.71%.

In related news, Director Linda Chavez sold 2,008 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $46.13, for a total value of $92,629.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott B. Salmirs sold 8,747 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $45.40, for a total transaction of $397,113.80. The disclosure for this sale can be found here. Insiders have sold 24,140 shares of company stock valued at $1,141,717 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Several large investors have recently modified their holdings of ABM. Operose Advisors LLC acquired a new position in shares of ABM Industries during the first quarter valued at $41,000. KBC Group NV bought a new stake in shares of ABM Industries during the third quarter valued at about $42,000. Pinebridge Investments L.P. bought a new stake in ABM Industries in the fourth quarter worth about $45,000. Trust Co. of Vermont bought a new stake in ABM Industries in the fourth quarter worth about $47,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its position in ABM Industries by 22.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,117 shares of the business services provider’s stock worth $127,000 after acquiring an additional 570 shares in the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.

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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