ABM Industries Incorporated (NYSE:ABM) Receives $55.67 Average Target Price from Analysts

ABM Industries Incorporated (NYSE:ABM) has been assigned an average rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $55.6667.

A number of analysts have recently commented on the stock. Baird R W lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Robert W. Baird reissued a “neutral” rating and set a $54.00 price objective (down previously from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. UBS Group lifted their price objective on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th.

ABM Industries Price Performance

Shares of ABM opened at $42.84 on Tuesday. ABM Industries has a fifty-two week low of $40.85 and a fifty-two week high of $59.15. The firm’s 50-day simple moving average is $46.21 and its two-hundred day simple moving average is $47.61. The stock has a market cap of $2.62 billion, a PE ratio of 23.28 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49.

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

ABM Industries announced that its Board of Directors has initiated a share buyback program on Friday, September 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the business services provider to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s dividend payout ratio is presently 57.61%.

Institutional Investors Weigh In On ABM Industries

Hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of ABM Industries during the first quarter valued at approximately $38,000. Federated Hermes Inc. boosted its position in ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in ABM Industries in the first quarter worth about $45,000. Kiker Wealth Management LLC purchased a new stake in shares of ABM Industries during the second quarter valued at about $61,000. Finally, Virtus Advisers LLC acquired a new position 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.

About ABM Industries

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.