ABM Industries (ABM) Releases Quarterly Earnings Results
ABM Industries (NYSE: ABM) announced its earnings results on Monday. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. ABM Industries updated its FY13 guidance to $1.35-1.45 EPS.
Several analysts have also recently commented on the stock. Analysts at Imperial Capital raised their price target on shares of ABM Industries from $19.00 to $20.00 in a research note to investors on Tuesday, December 18th. They now have an “in-line” rating on the stock. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of ABM Industries in a research note to investors on Friday, December 14th. They now have a $21.00 price target on the stock. Finally, analysts at KeyBanc upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, December 12th. They now have a $25.00 price target on the stock.
Two investment analysts have rated the stock with a buy rating, and four have assigned a hold rating to the company. The stock presently has a consensus rating of “overweight” and an average price target of $23.25.
ABM Industries (ABM) traded up 0.04% on Monday, hitting $22.74. ABM Industries (ABM) has a 1-year low of $17.85 and a 1-year high of $24.61. The stock’s 50-day moving average is currently $21.95. The company has a market cap of $1.237 billion and a price-to-earnings ratio of 19.97.
The company also recently announced a quarterly dividend, which is scheduled for Monday, May 6th. Stockholders of record on Thursday, April 4th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.64%.
ABM Industries Incorporated (ABM), through its subsidiaries is a provider of facility services in the United States.
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