$1.32 Billion in Sales Expected for ABM Industries Incorporated (ABM) This Quarter
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.
COPYRIGHT VIOLATION WARNING: “$1.32 Billion in Sales Expected for ABM Industries Incorporated (ABM) This Quarter” was originally published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was copied illegally and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/18/1-32-billion-in-sales-expected-for-abm-industries-incorporated-abm-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ABM Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.