ABM Industries’ (ABM) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c) rating on shares of ABM Industries (NYSE:ABM) in a research note published on Friday,Weiss Ratings reports.

A number of other equities research analysts have also weighed in on the company. UBS Group lifted their target price on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Baird R W lowered ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Robert W. Baird reissued a “neutral” rating and issued a $54.00 price target (down from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Truist Financial raised ABM Industries from a “hold” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Finally, Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.67.

ABM Industries Trading Up 0.4%

Shares of NYSE ABM opened at $45.67 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $47.66. The firm has a market cap of $2.80 billion, a PE ratio of 24.82 and a beta of 0.78. ABM Industries has a twelve month low of $40.85 and a twelve month high of $59.15.

ABM Industries (NYSE:ABM) last issued its earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Analysts expect that ABM Industries will post 3.71 earnings per share for the current fiscal year.

ABM Industries declared that its Board of Directors has authorized a stock buyback program on Friday, September 5th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Thursday, October 2nd will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s payout ratio is 57.61%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new position in ABM Industries during the 1st quarter worth $38,000. Federated Hermes Inc. grew its stake in ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock worth $44,000 after buying an additional 477 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in ABM Industries during the 1st quarter valued at about $45,000. Kiker Wealth Management LLC purchased a new stake in ABM Industries during the 2nd quarter valued at about $61,000. Finally, Virtus Advisers LLC purchased a new stake in ABM Industries during the 1st quarter valued at about $64,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

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.