Shares of ABM Industries Inc. (NYSE:ABM) have received an average recommendation of “Buy” from the five ratings firms that are presently covering the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$42.33.
ABM has been the topic of a number of research reports. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price objective on shares of ABM Industries in a report on Wednesday, August 31st. Finally, Imperial Capital lifted their price objective on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, June 23rd.
Shares of ABM Industries (NYSE:ABM) traded down 1.89% on Tuesday, reaching $39.12. The company’s stock had a trading volume of 120,818 shares. The company’s 50 day moving average price is $38.84 and its 200 day moving average price is $35.64. ABM Industries has a 12-month low of $26.50 and a 12-month high of $40.47. The company has a market cap of $2.18 billion, a P/E ratio of 25.30 and a beta of 0.75.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.14. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. Analysts forecast that ABM Industries will post $1.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be issued a dividend of $0.165 per share. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a yield of 1.65%. ABM Industries’s dividend payout ratio is presently 42.58%.
In related news, Director Maryellen C. Herringer sold 1,854 shares of the business’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of C$36.83, for a total transaction of C$68,282.82. Following the transaction, the director now owns 156,777 shares in the company, valued at approximately C$5,774,096.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott J. Giacobbe sold 13,700 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of C$39.33, for a total value of C$538,821.00. Following the transaction, the insider now owns 33,383 shares in the company, valued at approximately C$1,312,953.39. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Aperio Group LLC boosted its stake in ABM Industries by 31.9% in the first quarter. Aperio Group LLC now owns 26,663 shares of the company’s stock valued at $861,000 after buying an additional 6,455 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in ABM Industries during the first quarter valued at $446,000. Prudential Financial Inc. boosted its stake in ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock valued at $4,341,000 after buying an additional 3,600 shares during the last quarter. BlackRock Inc. boosted its stake in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock valued at $3,591,000 after buying an additional 6,235 shares during the last quarter. 90.56% of the stock is currently owned by institutional investors and hedge funds.
About ABM Industries
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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