ABM Industries (ABM) Updates FY 2019 Earnings Guidance

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ABM Industries (NYSE:ABM) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.90-2.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.05.

A number of brokerages have recently weighed in on ABM. TheStreet cut shares of ABM Industries from a b rating to a c+ rating in a research note on Tuesday, December 11th. Sidoti reduced their price objective on shares of ABM Industries from $46.00 to $43.00 and set a buy rating for the company in a research note on Tuesday, December 11th. Zacks Investment Research restated a sell rating on shares of ABM Industries in a research note on Monday, November 12th. ValuEngine cut shares of ABM Industries from a hold rating to a sell rating in a research note on Thursday, September 27th. Finally, Robert W. Baird cut shares of ABM Industries from an outperform rating to a neutral rating and boosted their price objective for the stock from $36.00 to $40.00 in a research note on Thursday, August 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. ABM Industries presently has an average rating of Hold and an average price target of $41.00.

Shares of ABM stock opened at $27.06 on Wednesday. ABM Industries has a 1 year low of $25.64 and a 1 year high of $40.00. The firm has a market cap of $1.71 billion, a P/E ratio of 15.46 and a beta of 0.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 1.61.

ABM Industries (NYSE:ABM) last announced its earnings results on Tuesday, December 18th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. ABM Industries had a net margin of 1.34% and a return on equity of 7.75%. During the same quarter last year, the company earned $0.37 EPS. Analysts predict that ABM Industries will post 1.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 4th. Investors of record on Thursday, January 3rd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.66%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.18. ABM Industries’s payout ratio is 40.00%.

In related news, SVP Dean A. Chin sold 2,018 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $30.39, for a total transaction of $61,327.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Dean A. Chin sold 3,024 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $31.20, for a total transaction of $94,348.80. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

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ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.

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Earnings History and Estimates for ABM Industries (NYSE:ABM)

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