ABM Industries (NYSE:ABM) Issues Earnings Results

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ABM Industries (NYSE:ABM) announced its earnings results on Thursday. The business services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02, Briefing.com reports. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a net margin of 1.33% and a return on equity of 8.82%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. ABM Industries updated its FY 2019 guidance to $1.95-2.05 EPS and its FY19 guidance to $1.95-2.05 EPS.

Shares of ABM stock traded up $0.57 during mid-day trading on Friday, reaching $37.94. 974 shares of the company’s stock traded hands, compared to its average volume of 300,829. The firm has a market capitalization of $2.48 billion, a PE ratio of 20.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a 50 day moving average price of $39.53 and a two-hundred day moving average price of $38.01. ABM Industries has a 12 month low of $25.64 and a 12 month high of $42.67.

A number of equities research analysts have weighed in on the stock. ValuEngine lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. William Blair began coverage on shares of ABM Industries in a research report on Thursday, August 15th. They set a “market perform” rating for the company. Finally, Maxim Group reissued a “buy” rating and set a $50.00 price objective on shares of ABM Industries in a research report on Friday, July 19th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. ABM Industries presently has an average rating of “Hold” and an average price target of $41.71.

In related news, CAO Dean A. Chin sold 1,329 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $39.95, for a total value of $53,093.55. Following the completion of the transaction, the chief accounting officer now owns 19,976 shares of the company’s stock, valued at approximately $798,041.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rene Jacobsen sold 1,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $38.22, for a total transaction of $57,330.00. The disclosure for this sale can be found here. Insiders sold a total of 19,904 shares of company stock valued at $806,797 in the last ninety days. 0.94% of the stock is currently owned by insiders.

About ABM Industries

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

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Earnings History for ABM Industries (NYSE:ABM)

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