Wall Street brokerages expect that ABM Industries Incorporated (NYSE:ABM) will report $1.32 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for ABM Industries’ earnings. The highest sales estimate is $1.32 billion and the lowest is $1.31 billion. ABM Industries posted sales of $1.30 billion during the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The company is expected to report its next earnings results on Wednesday, September 6th.

According to Zacks, analysts expect that ABM Industries will report full-year sales of $1.32 billion for the current fiscal year. For the next year, analysts anticipate that the company will report sales of $5.34 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow ABM Industries.

ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. ABM Industries’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share.

A number of analysts have issued reports on ABM shares. BidaskClub raised ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Robert W. Baird reaffirmed an “outperform” rating and issued a $47.00 price objective (down previously from $49.00) on shares of ABM Industries in a research note on Thursday, July 13th. Zacks Investment Research raised ABM Industries from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Monday, June 12th. Finally, Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $55.00 in a research note on Thursday, July 13th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ABM Industries currently has a consensus rating of “Buy” and a consensus price target of $48.25.

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In other news, insider James P. Mcclure sold 1,970 shares of ABM Industries stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $40.87, for a total value of $80,513.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Dean A. Chin sold 632 shares of ABM Industries stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,925 shares of company stock valued at $385,575. Company insiders own 1.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. boosted its position in shares of ABM Industries by 15.6% in the first quarter. Macquarie Group Ltd. now owns 747,218 shares of the business services provider’s stock worth $32,579,000 after buying an additional 100,979 shares during the period. Teachers Advisors LLC boosted its position in shares of ABM Industries by 8.3% in the fourth quarter. Teachers Advisors LLC now owns 94,147 shares of the business services provider’s stock worth $3,845,000 after buying an additional 7,191 shares during the period. Sawgrass Asset Management LLC bought a new position in shares of ABM Industries during the first quarter worth approximately $281,000. Legal & General Group Plc boosted its position in shares of ABM Industries by 0.5% in the first quarter. Legal & General Group Plc now owns 133,692 shares of the business services provider’s stock worth $5,828,000 after buying an additional 729 shares during the period. Finally, Gofen & Glossberg LLC IL bought a new position in shares of ABM Industries during the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Shares of ABM Industries (NYSE:ABM) opened at 43.18 on Friday. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 191.91 and a beta of 0.80. ABM Industries has a 52 week low of $37.47 and a 52 week high of $45.12. The firm has a 50-day moving average price of $43.30 and a 200 day moving average price of $42.46.

The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Monday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is 283.33%.

About ABM Industries

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

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

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